patterns ...
Tennessee Foreclosure Trends: July 2010 How many/where/patterns Hulya Arik, Ph.D. September, 2010
According to the latest data from the RealtyTrac® US Foreclosure Market Report, Tennessee reported 3,955 properties with foreclosure filings1 in July 2010. This volume represents a one percent decline from the previous month (June 2010) and a 13 percent decline from the same month last year (July 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 325,229 foreclosure filings in the nation. In Tennessee, the number of properties with foreclosure filings ranged from zero in Clay, Hancock, Lake, Moore, and Pickett Counties to 1,237 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a four percent increase from June 2010, and a ten percent decline from July 2009. On average, there was one filing for every 397 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 82 housing units. Tennessee had one foreclosure filing for every 697 housing units, putting the State in 25th 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 July 2010, there were 1,908 properties with Notice of Trustee Sales (NTS), an eight percent increase from the last month and a 16 percent decline from the same month last year (July 2009). There were 2,047 properties repossessed by the lenders (REOs) in July 2010, an eight percent decrease from the last month (June 2010) and 11 percent decline from the same month last year (July 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
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 Jul-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
Source: RealtyTrac
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 July 2010. Shelby County, with one filing for every 325 housing units, had the highest foreclosure rate in the State. Shelby County also had the highest number of properties with foreclosure filings in the State (1,152). The total volume of foreclosure filings in Shelby County increased by seven percent from the previous month and declined by 31 percent from the same month last year (July 2009). The county with the second highest number of properties with foreclosure filings was Davidson (387), followed by Knox County (285) and Hamilton County (201). Compared to June 2010, the total number of properties with foreclosure filings declined in July 2010 in Davidson and Hamilton Counties by 24 percent and seven percent, respectively. However foreclosure filings increased in Knox County by 20 percent. Forty-four counties recorded declines in foreclosure filings from last month, while 41 counties had increases. Ten counties did not see any change in the number of properties with foreclosure filings.
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 Properties with Foreclosure Filings-Tennessee Counties- July 2010 July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009 31 15 9 1 45 43 16 3 10 16 26 4 10 0 17 20 3 18 387 2 12 31 21 9 10 14 39 13 14 28 6 40 201 0 6 8 17 8
1,106 1,163 1,000 5,411 1,178 966 1,198 1,898 1,357 1,712 607 1,699 1,501 -975 1,164 2,122 1,353 733 3,381 740 650 817 1,632 797 1,360 582 1,058 732 1,102 1,097 665 749 -1,902 1,692 1,537 1,070
48 50 35 90 52 31 54 73 59 71 11 69 61 91 32 51 78 58 19 85 20 13 25 65 23 60 9 40 18 47 46 14 22 91 74 68 63 42
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
43 36 4 2 21 50 32 8 19 8 17 7 10 0 11 17 3 10 405 1 8 38 20 8 4 16 31 16 7 26 7 44 213 0 11 9 23 7
3% -25% 80% -67% -2% -23% -16% 0% -38% 0% 8% -64% -17% -100% 6% -5% -25% 6% -24% -50% 140% 48% 75% 13% 43% 0% 77% 8% 56% 8% -33% -7% -7% -100% -60% 0% -19% 33%
-28% -58% 125% -50% 114% -14% -50% -63% -47% 100% 53% -43% 0% -55% 18% 0% 80% -4% 100% 50% -18% 5% 13% 150% -13% 26% -19% 100% 8% -14% -9% -6% --45% -11% -26% 14%
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- July 2010, Continued July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009 10 5 9 1 4 5 41 5 285 0 7 16 4 9 27 8 41 7 28 75 26 12 11 34 66 0 6 15 3 2 0 5 29 19 28 41 172 3
1,210 3,333 1,036 4,085 2,246 1,083 550 1,703 690 -1,654 1,088 1,257 1,615 746 1,187 1,053 1,928 461 481 873 982 521 557 1,034 -1,351 995 3,201 2,161 -1,661 1,060 727 886 621 591 3,111
55 84 38 89 80 44 7 70 15 91 66 45 56 64 21 53 39 75 4 5 27 33 6 8 37 91 57 34 83 79 91 67 41 17 30 12 10 82
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
12 11 16 3 9 0 30 3 215 3 15 6 6 14 42 7 67 12 18 67 28 2 9 21 82 1 5 8 6 1 0 12 17 22 22 49 228 3
11% -38% -44% -50% -20% 150% 71% 0% 20% -100% -65% 14% 0% -44% -53% -33% -25% 0% 8% 21% 8% 9% -8% 17% -1% -20% 50% 50% 100% -100% -58% 32% 36% 40% -32% 5% 200%
-17% -55% -44% -67% -56% -37% 67% 33% -100% -53% 167% -33% -36% -36% 14% -39% -42% 56% 12% -7% 500% 22% 62% -20% -100% 20% 88% -50% 100% --58% 71% -14% 27% -16% -25% 0%
County Name
Total Number of Properties with Foreclosure Filings-Tennessee Counties- July 2010, Continued July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009
Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
16 119 1,237 3 3 38 79 33 1 8 6 3 17 47 2 4 6 71 50 3,955 325,229
326 364 325 2,762 2,111 1,952 803 709 3,425 1,072 1,537 859 1,026 1,139 3,534 3,933 1,779 885 874 697 397
2 3 1 81 77 76 24 16 86 43 62 26 36 49 87 88 72 29 28 25*
14 88 1,152 7 5 37 87 34 1 10 9 2 14 48 2 5 10 56 65 3,981 313,841
7 117 1,799 10 6 25 118 16 0 3 7 5 17 50 6 10 9 67 36 4,572 360,149
14% 35% 7% -57% -40% 3% -9% -3% 0% -20% -33% 50% 21% -2% 0% -20% -40% 27% -23% -1% 4%
129% 2% -31% -70% -50% 52% -33% 106% -167% -14% -40% 0% -6% -67% -60% -33% 6% 39% -13% -10%
*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 3,955 properties with foreclosure filings1 in July 2010. This volume represents a one percent decline from the previous month (June 2010) and a 13 percent decline from the same month last year (July 2009). The total number of properties with foreclosure filings in Tennessee accounted for one percent of the 325,229 foreclosure filings in the nation. In Tennessee, the number of properties with foreclosure filings ranged from zero in Clay, Hancock, Lake, Moore, and Pickett Counties to 1,237 in Shelby County. In terms of the total number of properties with foreclosure filings, the U.S. had a four percent increase from June 2010, and a ten percent decline from July 2009. On average, there was one filing for every 397 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 82 housing units. Tennessee had one foreclosure filing for every 697 housing units, putting the State in 25th 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 July 2010, there were 1,908 properties with Notice of Trustee Sales (NTS), an eight percent increase from the last month and a 16 percent decline from the same month last year (July 2009). There were 2,047 properties repossessed by the lenders (REOs) in July 2010, an eight percent decrease from the last month (June 2010) and 11 percent decline from the same month last year (July 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
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 Jul-10
0
NTS (Notice of Trustee Sales)
REO
TOTAL
Source: RealtyTrac
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 July 2010. Shelby County, with one filing for every 325 housing units, had the highest foreclosure rate in the State. Shelby County also had the highest number of properties with foreclosure filings in the State (1,152). The total volume of foreclosure filings in Shelby County increased by seven percent from the previous month and declined by 31 percent from the same month last year (July 2009). The county with the second highest number of properties with foreclosure filings was Davidson (387), followed by Knox County (285) and Hamilton County (201). Compared to June 2010, the total number of properties with foreclosure filings declined in July 2010 in Davidson and Hamilton Counties by 24 percent and seven percent, respectively. However foreclosure filings increased in Knox County by 20 percent. Forty-four counties recorded declines in foreclosure filings from last month, while 41 counties had increases. Ten counties did not see any change in the number of properties with foreclosure filings.
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 Properties with Foreclosure Filings-Tennessee Counties- July 2010 July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009 31 15 9 1 45 43 16 3 10 16 26 4 10 0 17 20 3 18 387 2 12 31 21 9 10 14 39 13 14 28 6 40 201 0 6 8 17 8
1,106 1,163 1,000 5,411 1,178 966 1,198 1,898 1,357 1,712 607 1,699 1,501 -975 1,164 2,122 1,353 733 3,381 740 650 817 1,632 797 1,360 582 1,058 732 1,102 1,097 665 749 -1,902 1,692 1,537 1,070
48 50 35 90 52 31 54 73 59 71 11 69 61 91 32 51 78 58 19 85 20 13 25 65 23 60 9 40 18 47 46 14 22 91 74 68 63 42
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
43 36 4 2 21 50 32 8 19 8 17 7 10 0 11 17 3 10 405 1 8 38 20 8 4 16 31 16 7 26 7 44 213 0 11 9 23 7
3% -25% 80% -67% -2% -23% -16% 0% -38% 0% 8% -64% -17% -100% 6% -5% -25% 6% -24% -50% 140% 48% 75% 13% 43% 0% 77% 8% 56% 8% -33% -7% -7% -100% -60% 0% -19% 33%
-28% -58% 125% -50% 114% -14% -50% -63% -47% 100% 53% -43% 0% -55% 18% 0% 80% -4% 100% 50% -18% 5% 13% 150% -13% 26% -19% 100% 8% -14% -9% -6% --45% -11% -26% 14%
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- July 2010, Continued July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009 10 5 9 1 4 5 41 5 285 0 7 16 4 9 27 8 41 7 28 75 26 12 11 34 66 0 6 15 3 2 0 5 29 19 28 41 172 3
1,210 3,333 1,036 4,085 2,246 1,083 550 1,703 690 -1,654 1,088 1,257 1,615 746 1,187 1,053 1,928 461 481 873 982 521 557 1,034 -1,351 995 3,201 2,161 -1,661 1,060 727 886 621 591 3,111
55 84 38 89 80 44 7 70 15 91 66 45 56 64 21 53 39 75 4 5 27 33 6 8 37 91 57 34 83 79 91 67 41 17 30 12 10 82
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
12 11 16 3 9 0 30 3 215 3 15 6 6 14 42 7 67 12 18 67 28 2 9 21 82 1 5 8 6 1 0 12 17 22 22 49 228 3
11% -38% -44% -50% -20% 150% 71% 0% 20% -100% -65% 14% 0% -44% -53% -33% -25% 0% 8% 21% 8% 9% -8% 17% -1% -20% 50% 50% 100% -100% -58% 32% 36% 40% -32% 5% 200%
-17% -55% -44% -67% -56% -37% 67% 33% -100% -53% 167% -33% -36% -36% 14% -39% -42% 56% 12% -7% 500% 22% 62% -20% -100% 20% 88% -50% 100% --58% 71% -14% 27% -16% -25% 0%
County Name
Total Number of Properties with Foreclosure Filings-Tennessee Counties- July 2010, Continued July 2010 June 2010 July 2009 Percent Changes Total Number of Total Number of Total Number of Properties with 1/every X Ranking Properties with Properties with % Change % Change Foreclosure Housing Unit among all Foreclosure Foreclosure from June from July Filings (Rate) counties Filings Filings 2010 2009
Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee U.S. Total
16 119 1,237 3 3 38 79 33 1 8 6 3 17 47 2 4 6 71 50 3,955 325,229
326 364 325 2,762 2,111 1,952 803 709 3,425 1,072 1,537 859 1,026 1,139 3,534 3,933 1,779 885 874 697 397
2 3 1 81 77 76 24 16 86 43 62 26 36 49 87 88 72 29 28 25*
14 88 1,152 7 5 37 87 34 1 10 9 2 14 48 2 5 10 56 65 3,981 313,841
7 117 1,799 10 6 25 118 16 0 3 7 5 17 50 6 10 9 67 36 4,572 360,149
14% 35% 7% -57% -40% 3% -9% -3% 0% -20% -33% 50% 21% -2% 0% -20% -40% 27% -23% -1% 4%
129% 2% -31% -70% -50% 52% -33% 106% -167% -14% -40% 0% -6% -67% -60% -33% 6% 39% -13% -10%
*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
