Tennessee Foreclosure Trends: June 2010 How many
Tennessee Foreclosure Trends: June 2010 How many/where/patterns Hulya Arik, Ph.D. July, 2010
According to the latest data from the RealtyTrac® US Foreclosure Market Report, Tennessee reported 3,981 properties with foreclosure filings1 in June 2010. This volume represents a two percent increase from the previous month (May 2010) and a 15 percent decline from the same month last year (June 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 313,841 foreclosure filings in the nation. In Tennessee, the properties with foreclosure filings ranged from zero in Moore County to 1,152 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a three percent decline from May 2010, and a seven percent decline from June 2009. On average, there was one filing for every 411 housing units in the nation. Nevada ranked number one in the nation with one foreclosure filing for every 88 housing units. Tennessee had one foreclosure filing for every 693 housing units, putting the State in 24th place in the nation.
1
For Tennessee, RealtyTrac’s report (http://relatytrac.com/trendcenter/) incorporates documents filed in two phases of foreclosure: Auction — Notice of Trustee Sale (NTS); and Real Estate Owned (REO) properties that have been foreclosed on and repurchased by a bank.
In June 2010, there were 1,766 properties with Notice of Trustee Sales (NTS), a 12 percent decline from the last month and a 37 percent decline from the same month last year (June 2009). 2,215 properties were repossessed by the lenders (REOs) in June 2010, a 17 percent increase from both the last month (May 2010) and the same month last year (June 2009).
Notice of Trustee Sales, REOs, and Total Number of Properties with Foreclosure Filings in Tennessee 2008-2010 6,000 5,000 4,000 3,000 2,000 1,000
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
The total foreclosure filings in four counties (Davidson, Hamilton, Knox, and Shelby) accounted for 53 percent of the total foreclosure filings in the State in June 2010. Loudon County, with one filing for every 347 housing units, had the highest foreclosure rate in the State. In Loudon, the number of properties with foreclosure filings increased to 58 in June 2010 from 31 in May 2010, an 87 percent monthly increase. Shelby County had the highest number of properties with foreclosure filings in the State (1,152 properties). Traditionally, Shelby County ranked number one both in foreclosure rate and in the total number of properties with foreclosure filings. The total volume of foreclosure filings in Shelby County declined by 19 percent from the previous month and by 37 percent from the same month last year (June 2009). The county with the second highest number of properties with foreclosure filings was Davidson (512), followed by Knox County (238) and Hamilton County (217). Compared to May 2010, the total number of properties with foreclosure filings increased in June 2010 in Davidson, Knox, and Hamilton Counties by 110 percent, 16 percent, and 31 percent, respectively. Thirty-seven counties recorded declines in foreclosure filings from last month, while 50 counties had increases. Eight counties did not see any change in the number of properties with foreclosure filings.
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010 June 2010 May 2010 June 2009 Percent Changes County Name Anderson Bedford Benton Bledsoe Blount Bradley Campbell Cannon Carroll Carter Cheatham Chester Claiborne Clay Cocke Coffee Crockett Cumberland Davidson Decatur DeKalb Dickson Dyer Fayette Fentress Franklin Gibson Giles Grainger Greene Grundy Hamblen Hamilton Hancock Hardeman Hardin Hawkins Haywood
Total Number of 1/every X Ranking Properties with Housing Unit among all Foreclosure Filings (Rate) counties 30 20 5 3 46 56 19 3 16 16 24 11 12 1 16 21 4 17 512 4 5 21 12 8 7 14 22 12 9 26 9 43 217 4 15 8 21 6
1,143 872 1,800 1,804 1,153 741 1,009 1,898 848 1,712 658 618 1,251 4,167 1,036 1,108 1,591 1,433 554 1,691 1,775 960 1,430 1,836 1,138 1,360 1,032 1,146 1,138 1,187 732 619 693 852 761 1,692 1,244 1,427
49 31 78 79 51 23 37 81 28 75 16 12 58 91 41 44 70 68 8 72 76 35 67 80 47 63 40 50 48 53 22 13 20 29 24 73 56 66
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
28 29 1 1 37 67 14 5 11 8 18 5 15 1 15 22 7 9 244 3 3 33 18 15 7 10 25 10 11 23 5 26 166 0 30 15 18 6
25 36 5 7 32 48 20 6 14 12 30 9 7 0 23 22 5 24 420 1 6 35 22 7 6 16 22 13 10 31 3 64 250 2 13 18 18 6
% Change % Change from May from June '10 '09 7% -31% 400% 200% 24% -16% 36% -40% 45% 100% 33% 120% -20% 0% 7% -5% -43% 89% 110% 33% 67% -36% -33% -47% 0% 40% -12% 20% -18% 13% 80% 65% 31% --50% -47% 17% 0%
20% -44% 0% -57% 44% 17% -5% -50% 14% 33% -20% 22% 71% --30% -5% -20% -29% 22% 300% -17% -40% -45% 14% 17% -13% 0% -8% -10% -16% 200% -33% -13% 100% 15% -56% 17% 0%
County Name Henderson Henry Hickman Houston Humphreys Jackson Jefferson Johnson Knox Lake Lauderdale Lawrence Lewis Lincoln Loudon Macon Madison Marion Marshall Maury McMinn McNairy Meigs Monroe Montgomery Moore Morgan Obion Overton Perry Pickett Polk Putnam Rhea Roane Robertson Rutherford Scott
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010, Continued June 2010 May 2010 June 2009 Percent Changes Total Number of 1/every X Ranking Total Number of Total Number of % Change % Change Properties with Housing Unit among all Properties with Properties with from May from June Foreclosure Filings (Rate) counties Foreclosure Filings Foreclosure Filings '10 '09 9 8 16 2 5 2 24 5 238 2 20 14 4 16 58 12 55 7 26 62 24 11 12 29 67 0 5 10 2 1 1 12 22 14 20 60 164 1
1,345 2,083 583 2,043 1,796 2,707 940 1,703 826 1,385 579 1,243 1,257 909 347 792 785 1,928 496 581 946 1,072 478 653 1,019 -1,621 1,493 4,802 4,322 3,103 692 1,397 987 1,240 425 620 9,333
62 85 11 84 77 86 33 74 27 64 9 55 59 32 1 26 25 82 7 10 34 43 5 15 38 95 71 69 93 92 87 19 65 36 54 4 14 94
12 10 26 2 7 1 31 6 205 1 7 18 4 14 31 7 48 10 19 75 17 12 3 18 63 2 4 11 2 2 0 6 20 19 16 43 194 2
7 9 17 1 5 1 37 6 289 0 24 11 4 7 34 4 67 5 22 70 26 12 9 37 76 2 5 11 11 1 0 7 19 28 26 33 188 1
-25% -20% -38% 0% -29% 100% -23% -17% 16% 100% 186% -22% 0% 14% 87% 71% 15% -30% 37% -17% 41% -8% 300% 61% 6% -100% 25% -9% 0% -50% -100% 10% -26% 25% 40% -15% -50%
29% -11% -6% 100% 0% 100% -35% -17% -18% --17% 27% 0% 129% 71% 200% -18% 40% 18% -11% -8% -8% 33% -22% -12% -100% 0% -9% -82% 0% -71% 16% -50% -23% 82% -13% 0%
County Name
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010, Continued June 2010 May 2010 June 2009 Percent Changes Total Number of 1/every X Ranking Total Number of Total Number of % Change % Change Properties with Housing Unit among all Properties with Properties with from May from June Foreclosure Filings (Rate) counties Foreclosure Filings Foreclosure Filings '10 '09
Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
14 88 1,152 7 5 37 87 34 1 10 9 2 14 48 2 5 10 56 65 3,981 313,841
373 492 349 1,184 1,266 2,005 729 688 3,425 858 1,025 1,289 1,246 1,115 3,534 3,146 1,068 1,123 672 693 411
3 6 2 52 60 83 21 18 89 30 39 61 57 45 90 88 42 46 17 24*
14 130 1,420 5 2 39 115 25 5 4 8 1 21 40 0 6 10 78 40 3,892 322,920
22 114 1,753 9 5 30 125 18 6 3 9 1 22 28 3 6 6 78 37 4,675 337,397
0% -32% -19% 40% 150% -5% -24% 36% -80% 150% 13% 100% -33% 20% --17% 0% -28% 63% 2% -3%
-36% -23% -34% -22% 0% 23% -30% 89% -83% 233% 0% 100% -36% 71% -33% -17% 67% -28% 76% -15% -7%
*Tennessee ranking in the nation among other states Source: RealtyTrac®
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
According to the latest data from the RealtyTrac® US Foreclosure Market Report, Tennessee reported 3,981 properties with foreclosure filings1 in June 2010. This volume represents a two percent increase from the previous month (May 2010) and a 15 percent decline from the same month last year (June 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 313,841 foreclosure filings in the nation. In Tennessee, the properties with foreclosure filings ranged from zero in Moore County to 1,152 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a three percent decline from May 2010, and a seven percent decline from June 2009. On average, there was one filing for every 411 housing units in the nation. Nevada ranked number one in the nation with one foreclosure filing for every 88 housing units. Tennessee had one foreclosure filing for every 693 housing units, putting the State in 24th place in the nation.
1
For Tennessee, RealtyTrac’s report (http://relatytrac.com/trendcenter/) incorporates documents filed in two phases of foreclosure: Auction — Notice of Trustee Sale (NTS); and Real Estate Owned (REO) properties that have been foreclosed on and repurchased by a bank.
In June 2010, there were 1,766 properties with Notice of Trustee Sales (NTS), a 12 percent decline from the last month and a 37 percent decline from the same month last year (June 2009). 2,215 properties were repossessed by the lenders (REOs) in June 2010, a 17 percent increase from both the last month (May 2010) and the same month last year (June 2009).
Notice of Trustee Sales, REOs, and Total Number of Properties with Foreclosure Filings in Tennessee 2008-2010 6,000 5,000 4,000 3,000 2,000 1,000
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
The total foreclosure filings in four counties (Davidson, Hamilton, Knox, and Shelby) accounted for 53 percent of the total foreclosure filings in the State in June 2010. Loudon County, with one filing for every 347 housing units, had the highest foreclosure rate in the State. In Loudon, the number of properties with foreclosure filings increased to 58 in June 2010 from 31 in May 2010, an 87 percent monthly increase. Shelby County had the highest number of properties with foreclosure filings in the State (1,152 properties). Traditionally, Shelby County ranked number one both in foreclosure rate and in the total number of properties with foreclosure filings. The total volume of foreclosure filings in Shelby County declined by 19 percent from the previous month and by 37 percent from the same month last year (June 2009). The county with the second highest number of properties with foreclosure filings was Davidson (512), followed by Knox County (238) and Hamilton County (217). Compared to May 2010, the total number of properties with foreclosure filings increased in June 2010 in Davidson, Knox, and Hamilton Counties by 110 percent, 16 percent, and 31 percent, respectively. Thirty-seven counties recorded declines in foreclosure filings from last month, while 50 counties had increases. Eight counties did not see any change in the number of properties with foreclosure filings.
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010 June 2010 May 2010 June 2009 Percent Changes County Name Anderson Bedford Benton Bledsoe Blount Bradley Campbell Cannon Carroll Carter Cheatham Chester Claiborne Clay Cocke Coffee Crockett Cumberland Davidson Decatur DeKalb Dickson Dyer Fayette Fentress Franklin Gibson Giles Grainger Greene Grundy Hamblen Hamilton Hancock Hardeman Hardin Hawkins Haywood
Total Number of 1/every X Ranking Properties with Housing Unit among all Foreclosure Filings (Rate) counties 30 20 5 3 46 56 19 3 16 16 24 11 12 1 16 21 4 17 512 4 5 21 12 8 7 14 22 12 9 26 9 43 217 4 15 8 21 6
1,143 872 1,800 1,804 1,153 741 1,009 1,898 848 1,712 658 618 1,251 4,167 1,036 1,108 1,591 1,433 554 1,691 1,775 960 1,430 1,836 1,138 1,360 1,032 1,146 1,138 1,187 732 619 693 852 761 1,692 1,244 1,427
49 31 78 79 51 23 37 81 28 75 16 12 58 91 41 44 70 68 8 72 76 35 67 80 47 63 40 50 48 53 22 13 20 29 24 73 56 66
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
28 29 1 1 37 67 14 5 11 8 18 5 15 1 15 22 7 9 244 3 3 33 18 15 7 10 25 10 11 23 5 26 166 0 30 15 18 6
25 36 5 7 32 48 20 6 14 12 30 9 7 0 23 22 5 24 420 1 6 35 22 7 6 16 22 13 10 31 3 64 250 2 13 18 18 6
% Change % Change from May from June '10 '09 7% -31% 400% 200% 24% -16% 36% -40% 45% 100% 33% 120% -20% 0% 7% -5% -43% 89% 110% 33% 67% -36% -33% -47% 0% 40% -12% 20% -18% 13% 80% 65% 31% --50% -47% 17% 0%
20% -44% 0% -57% 44% 17% -5% -50% 14% 33% -20% 22% 71% --30% -5% -20% -29% 22% 300% -17% -40% -45% 14% 17% -13% 0% -8% -10% -16% 200% -33% -13% 100% 15% -56% 17% 0%
County Name Henderson Henry Hickman Houston Humphreys Jackson Jefferson Johnson Knox Lake Lauderdale Lawrence Lewis Lincoln Loudon Macon Madison Marion Marshall Maury McMinn McNairy Meigs Monroe Montgomery Moore Morgan Obion Overton Perry Pickett Polk Putnam Rhea Roane Robertson Rutherford Scott
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010, Continued June 2010 May 2010 June 2009 Percent Changes Total Number of 1/every X Ranking Total Number of Total Number of % Change % Change Properties with Housing Unit among all Properties with Properties with from May from June Foreclosure Filings (Rate) counties Foreclosure Filings Foreclosure Filings '10 '09 9 8 16 2 5 2 24 5 238 2 20 14 4 16 58 12 55 7 26 62 24 11 12 29 67 0 5 10 2 1 1 12 22 14 20 60 164 1
1,345 2,083 583 2,043 1,796 2,707 940 1,703 826 1,385 579 1,243 1,257 909 347 792 785 1,928 496 581 946 1,072 478 653 1,019 -1,621 1,493 4,802 4,322 3,103 692 1,397 987 1,240 425 620 9,333
62 85 11 84 77 86 33 74 27 64 9 55 59 32 1 26 25 82 7 10 34 43 5 15 38 95 71 69 93 92 87 19 65 36 54 4 14 94
12 10 26 2 7 1 31 6 205 1 7 18 4 14 31 7 48 10 19 75 17 12 3 18 63 2 4 11 2 2 0 6 20 19 16 43 194 2
7 9 17 1 5 1 37 6 289 0 24 11 4 7 34 4 67 5 22 70 26 12 9 37 76 2 5 11 11 1 0 7 19 28 26 33 188 1
-25% -20% -38% 0% -29% 100% -23% -17% 16% 100% 186% -22% 0% 14% 87% 71% 15% -30% 37% -17% 41% -8% 300% 61% 6% -100% 25% -9% 0% -50% -100% 10% -26% 25% 40% -15% -50%
29% -11% -6% 100% 0% 100% -35% -17% -18% --17% 27% 0% 129% 71% 200% -18% 40% 18% -11% -8% -8% 33% -22% -12% -100% 0% -9% -82% 0% -71% 16% -50% -23% 82% -13% 0%
County Name
Total Number of Properties with Foreclosure Filings-Tennessee Counties- June 2010, Continued June 2010 May 2010 June 2009 Percent Changes Total Number of 1/every X Ranking Total Number of Total Number of % Change % Change Properties with Housing Unit among all Properties with Properties with from May from June Foreclosure Filings (Rate) counties Foreclosure Filings Foreclosure Filings '10 '09
Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
14 88 1,152 7 5 37 87 34 1 10 9 2 14 48 2 5 10 56 65 3,981 313,841
373 492 349 1,184 1,266 2,005 729 688 3,425 858 1,025 1,289 1,246 1,115 3,534 3,146 1,068 1,123 672 693 411
3 6 2 52 60 83 21 18 89 30 39 61 57 45 90 88 42 46 17 24*
14 130 1,420 5 2 39 115 25 5 4 8 1 21 40 0 6 10 78 40 3,892 322,920
22 114 1,753 9 5 30 125 18 6 3 9 1 22 28 3 6 6 78 37 4,675 337,397
0% -32% -19% 40% 150% -5% -24% 36% -80% 150% 13% 100% -33% 20% --17% 0% -28% 63% 2% -3%
-36% -23% -34% -22% 0% 23% -30% 89% -83% 233% 0% 100% -36% 71% -33% -17% 67% -28% 76% -15% -7%
*Tennessee ranking in the nation among other states Source: RealtyTrac®
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
