Tennessee Foreclosure Trends: May 2011 How many
Tennessee Foreclosure Trends: May 2011 How many/where/patterns Hulya Arik, Ph.D. July, 2011 According to the latest data from the RealtyTrac® US Foreclosure Market Report, the number of properties with foreclosure filings in Tennessee declined by 10 percent compared to the previous month (April). In Tennessee, 2,376 properties had foreclosure filings1 in May 2011. This volume represents a 39 percent decline from the same month last year (May 2010). In terms of the total number of properties with foreclosure filings, the U.S. had a two percent decrease from April 2011, and a 33 percent decline from May 2010. On average, there was one filing for every 605 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 103 housing units. Total number of properties with foreclosure filings in Nevada decreased by six percent compared to the previous month. Tennessee had one foreclosure filing for every 1,170 housing units. The total foreclosure filings in four major metro counties (Davidson, Hamilton, Knox, and Shelby) accounted for 38 percent of the total foreclosure filings in the State in May 2011. Polk County, with one filing for every 300 housing units, had the highest foreclosure rate in the State. The county with the highest number of properties with foreclosure filings in the State was Davidson with 329 properties. In Davidson County, the total volume of foreclosure filings decreased by seven percent from the previous month and increased by 35 percent from the same month last year (May 2010). Shelby County followed Davidson with 293 properties. In Shelby County, the total number of properties with foreclosure filings declined by 25 percent from last month (April) and by 79 percent from the same month last year (May 2010). The county with the third highest number of properties with foreclosure filings was Knox (154), followed by Sullivan County (131). Jackson, Lake, and Perry counties did not have any properties with foreclosure filings. Forty-seven counties recorded declines in foreclosure filings from last month, while 38 counties had increases. Ten counties did not see any change in the number of properties with foreclosure filings. Compared to the previous year, the number of properties with foreclosure filings declined in 61 counties, while 28 counties had increases. Six counties did not have any change from the previous year.
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 May 2011, there were 668 properties with a notice of trustee sales (NTS), a 38 percent decrease from the last month and a 67 percent decline from the same month last year (May 2010). The number of properties repossessed by lenders (REOs) in May 2011 was 1,708, a 10 percent increase from the last month (April 2011) and a 10 percent decrease from the last year.
Notice of Trustee Sales (NTS), REOs, and Total Number of Properties with Foreclosure Filings Tennessee, 2009-2011 6,000 5,000 4,000 3,000 2,000 1,000
NTS (Notice of Trustee Sales) Source: RealtyTrac
REO
TOTAL
Apr-11
Feb-11 Mar-11
Jan-11
Nov-10 Dec-10
Aug-10 Sep-10 Oct-10
Jun-10 Jul-10
Apr-10 May-10
Feb-10 Mar-10
Jan-10
Nov-09 Dec-09
Aug-09 Sep-09 Oct-09
Jun-09 Jul-09
May-09
0
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011 May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 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
24 13 6 2 19 30 18 2 6 5 16 7 13 2 13 14 4 17 329 1 3 31 16 12 2 5 18 10 7 20 5 18 121 1 36 5 15 3
1,436 1,357 1,515 2,734 2,818 1,397 1,082 2,869 2,279 5,533 997 981 1,171 2,106 1,288 1,683 1,607 1,448 867 6,819 2,977 657 1,077 1,245 4,018 3,845 1,272 1,384 1,481 1,558 1,329 1,489 1,249 3,431 320 2,730 1,757 2,861
46 40 51 74 75 44 25 77 70 90 21 20 26 67 35 61 57 47 15 92 79 6 23 29 88 87 33 43 49 54 36 50 30 85 2 73 63 76
18 18 3 2 37 35 13 4 7 7 15 6 11 1 6 24 2 22 355 3 4 14 10 14 5 17 16 14 6 36 6 19 135 0 7 7 15 4
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
33% -28% 100% 0% -49% -14% 38% -50% -14% -29% 7% 17% 18% 100% 117% -42% 100% -23% -7% -67% -25% 121% 60% -14% -60% -71% 13% -29% 17% -44% -17% -5% -10% -414% -29% 0% -25%
-14% -55% 500% 100% -49% -55% 29% -60% -45% -38% -11% 40% -13% 100% -13% -36% -43% 89% 35% -67% 0% -6% -11% -20% -71% -50% -28% 0% -36% -13% 0% -31% -27% -20% -67% -17% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011, Continued May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 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
2 8 13 3 3 0 15 7 154 0 14 14 5 11 25 3 51 7 16 51 24 21 4 23 52 1 5 7 2 0 1 28 29 10 15 37 113 3
6,110 2,102 724 1,375 3,019 -1,521 1,228 1,284 -833 1,253 1,016 1,332 814 3,216 853 1,950 819 715 952 565 1,459 832 1,333 2,988 1,636 2,144 4,845 -3,130 300 1,079 1,400 1,664 695 918 3,142
91 66 9 42 81 93 52 27 34 93 13 31 22 37 10 84 14 65 11 8 19 4 48 12 38 80 58 68 89 93 82 1 24 45 59 7 18 83
5 9 20 2 6 0 23 3 267 0 9 12 5 9 22 3 61 5 13 58 15 11 8 14 54 3 9 5 2 3 0 13 14 13 20 26 128 1
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
-60% -11% -35% 50% -50% --35% 133% -42% -56% 17% 0% 22% 14% 0% -16% 40% 23% -12% 60% 91% -50% 64% -4% -67% -44% 40% 0% -100% -115% 107% -23% -25% 42% -12% 200%
-83% -20% -50% 50% -57% -100% -52% 17% -25% -100% 100% -22% 25% -21% -19% -57% 6% -30% -16% -32% 41% 75% 33% 28% -17% -50% 25% -36% 0% -100% -367% 45% -47% -6% -14% -42% 50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011, Continued May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
6 79 293 5 4 131 51 11 2 3 7 1 11 23 2 9 12 51 29 2,376 214,927
882 555 1,375 1,676 1,599 570 1,258 2,144 1,732 2,878 1,336 2,601 1,604 2,365 3,567 1,760 897 1,242 1,543 1,170 605
16 3 41 60 55 5 32 69 62 78 39 72 56 71 86 64 17 28 53 31
11 106 391 5 1 32 72 18 2 3 5 2 8 32 4 6 5 100 40 2,632 219,258
14 130 1,420 5 2 39 115 25 5 4 8 1 21 40 0 6 10 78 40 3,892 322,920
-45% -25% -25% 0% 300% 309% -29% -39% 0% 0% 40% -50% 38% -28% -50% 50% 140% -49% -28% -10% -2%
*County ranking is based on the rate of foreclosure filings, a rank of one means the county had the highest ratio of foreclosure to housing units. **Tennessee ranking in the nation among other states, a rank of one means the state had the highest ratio of foreclosure to housing units. Source: RealtyTrac®
-57% -39% -79% 0% 100% 236% -56% -56% -60% -25% -13% 0% -48% -43% -50% 20% -35% -28% -39% -33%
May 2011 Total Number of Foreclosure Filings by County
Source: RealtyTrac©
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
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 May 2011, there were 668 properties with a notice of trustee sales (NTS), a 38 percent decrease from the last month and a 67 percent decline from the same month last year (May 2010). The number of properties repossessed by lenders (REOs) in May 2011 was 1,708, a 10 percent increase from the last month (April 2011) and a 10 percent decrease from the last year.
Notice of Trustee Sales (NTS), REOs, and Total Number of Properties with Foreclosure Filings Tennessee, 2009-2011 6,000 5,000 4,000 3,000 2,000 1,000
NTS (Notice of Trustee Sales) Source: RealtyTrac
REO
TOTAL
Apr-11
Feb-11 Mar-11
Jan-11
Nov-10 Dec-10
Aug-10 Sep-10 Oct-10
Jun-10 Jul-10
Apr-10 May-10
Feb-10 Mar-10
Jan-10
Nov-09 Dec-09
Aug-09 Sep-09 Oct-09
Jun-09 Jul-09
May-09
0
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011 May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 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
24 13 6 2 19 30 18 2 6 5 16 7 13 2 13 14 4 17 329 1 3 31 16 12 2 5 18 10 7 20 5 18 121 1 36 5 15 3
1,436 1,357 1,515 2,734 2,818 1,397 1,082 2,869 2,279 5,533 997 981 1,171 2,106 1,288 1,683 1,607 1,448 867 6,819 2,977 657 1,077 1,245 4,018 3,845 1,272 1,384 1,481 1,558 1,329 1,489 1,249 3,431 320 2,730 1,757 2,861
46 40 51 74 75 44 25 77 70 90 21 20 26 67 35 61 57 47 15 92 79 6 23 29 88 87 33 43 49 54 36 50 30 85 2 73 63 76
18 18 3 2 37 35 13 4 7 7 15 6 11 1 6 24 2 22 355 3 4 14 10 14 5 17 16 14 6 36 6 19 135 0 7 7 15 4
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
33% -28% 100% 0% -49% -14% 38% -50% -14% -29% 7% 17% 18% 100% 117% -42% 100% -23% -7% -67% -25% 121% 60% -14% -60% -71% 13% -29% 17% -44% -17% -5% -10% -414% -29% 0% -25%
-14% -55% 500% 100% -49% -55% 29% -60% -45% -38% -11% 40% -13% 100% -13% -36% -43% 89% 35% -67% 0% -6% -11% -20% -71% -50% -28% 0% -36% -13% 0% -31% -27% -20% -67% -17% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011, Continued May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 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
2 8 13 3 3 0 15 7 154 0 14 14 5 11 25 3 51 7 16 51 24 21 4 23 52 1 5 7 2 0 1 28 29 10 15 37 113 3
6,110 2,102 724 1,375 3,019 -1,521 1,228 1,284 -833 1,253 1,016 1,332 814 3,216 853 1,950 819 715 952 565 1,459 832 1,333 2,988 1,636 2,144 4,845 -3,130 300 1,079 1,400 1,664 695 918 3,142
91 66 9 42 81 93 52 27 34 93 13 31 22 37 10 84 14 65 11 8 19 4 48 12 38 80 58 68 89 93 82 1 24 45 59 7 18 83
5 9 20 2 6 0 23 3 267 0 9 12 5 9 22 3 61 5 13 58 15 11 8 14 54 3 9 5 2 3 0 13 14 13 20 26 128 1
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
-60% -11% -35% 50% -50% --35% 133% -42% -56% 17% 0% 22% 14% 0% -16% 40% 23% -12% 60% 91% -50% 64% -4% -67% -44% 40% 0% -100% -115% 107% -23% -25% 42% -12% 200%
-83% -20% -50% 50% -57% -100% -52% 17% -25% -100% 100% -22% 25% -21% -19% -57% 6% -30% -16% -32% 41% 75% 33% 28% -17% -50% 25% -36% 0% -100% -367% 45% -47% -6% -14% -42% 50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties-May 2011, Continued May 2011 April 2011 May 2010 Percent Changes Total Number of 1/every X Total Number of Total Number of Properties with Housing Ranking Properties with Properties with % Change % Change Foreclosure Unit among all Foreclosure Foreclosure from April from May County Name Filings (Rate) counties* Filings Filings 2011 2010 Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
6 79 293 5 4 131 51 11 2 3 7 1 11 23 2 9 12 51 29 2,376 214,927
882 555 1,375 1,676 1,599 570 1,258 2,144 1,732 2,878 1,336 2,601 1,604 2,365 3,567 1,760 897 1,242 1,543 1,170 605
16 3 41 60 55 5 32 69 62 78 39 72 56 71 86 64 17 28 53 31
11 106 391 5 1 32 72 18 2 3 5 2 8 32 4 6 5 100 40 2,632 219,258
14 130 1,420 5 2 39 115 25 5 4 8 1 21 40 0 6 10 78 40 3,892 322,920
-45% -25% -25% 0% 300% 309% -29% -39% 0% 0% 40% -50% 38% -28% -50% 50% 140% -49% -28% -10% -2%
*County ranking is based on the rate of foreclosure filings, a rank of one means the county had the highest ratio of foreclosure to housing units. **Tennessee ranking in the nation among other states, a rank of one means the state had the highest ratio of foreclosure to housing units. Source: RealtyTrac®
-57% -39% -79% 0% 100% 236% -56% -56% -60% -25% -13% 0% -48% -43% -50% 20% -35% -28% -39% -33%
May 2011 Total Number of Foreclosure Filings by County
Source: RealtyTrac©
Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1200 Nashville, Tennessee 37243-0900
www.thda.org 615-815-2200
