patterns
Tennessee Foreclosure Trends: April 2011 How many/where/patterns Hulya Arik, Ph.D. June, 2011 According to the latest data from the RealtyTrac® US Foreclosure Market Report, the number of properties with foreclosure filings in Tennessee declined by 18 percent compared to the previous month (March). In Tennessee, 2,632 properties had foreclosure filings1 in April 2011. This volume represents a 45 percent decline from the same month last year (April 2010). In terms of the total number of properties with foreclosure filings, the U.S. had a nine percent decrease from March 2011, and a 34 percent decrease from April 2010. On average, there was one filing for every 593 housing units in the nation. Nevada had the nation’s highest foreclosure rate with one foreclosure filing for every 97 housing units. Total number of properties with foreclosure filings in Nevada decreased by nine percent compared to the previous month. Tennessee had one foreclosure filing for every 1,057 housing units. The total foreclosure filings in four major metro counties (Davidson, Hamilton, Knox, and Shelby) accounted for 44 percent of the total foreclosure filings in the State in April 2011. Sevier County, with one filing for every 413 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 Shelby, 391 properties. In Shelby County, the total volume of foreclosure filings decreased by 33 percent from the previous month and declined by 76 percent from the same month last year (April 2010). Davidson County followed Shelby with 355 properties with foreclosure filings. In Davidson County, the total number of properties with foreclosure filings declined by 31 percent from last month (March) and by 17 percent from the same month last year (April 2010). The county with the third highest number of properties with foreclosure filings was Knox (267), followed by Hamilton County (135). Hancock, Jackson, Lake, and Pickett counties did not have any properties with foreclosure filings. Fifty-seven counties recorded declines in foreclosure filings from last month, while 25 counties had increases. Thirteen 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 71 counties, while 16 counties had increases. Eight 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 April 2011, there were 1,073 properties with a notice of trustee sales (NTS), a 6 percent increase from the last month and a 57 percent decline from the same month last year (April 2010). The number of properties repossessed by the lenders (REOs) in April 2011 was 1,559, a 29 percent decrease from the last month (March 2011) and a 32 percent decline from the same month last year (April 2010).
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
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 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11
0
NTS (Notice of Trustee Sales)
Source: RealtyTrac
REO
TOTAL
Total Number of Properties with Foreclosure Filings-Tennessee Counties-April 2011 April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* 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
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
1,914 980 3,030 2,734 1,447 1,197 1,498 1,434 1,953 3,952 1,064 1,144 1,384 4,212 2,791 982 3,215 1,119 803 2,273 2,233 1,454 1,723 1,067 1,607 1,131 1,431 989 1,727 866 1,108 1,411 1,119 -1,644 1,950 1,757 2,146
65 16 84 79 46 35 50 45 67 87 25 34 42 88 80 17 85 31 10 74 72 47 58 26 53 33 44 19 59 12 29 43 32 92 55 66 61 69
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
25 28 3 2 28 41 19 6 18 17 33 8 6 2 13 27 9 16 511 3 7 23 18 13 11 13 23 11 8 24 4 20 172 0 6 11 17 7
35 29 9 4 50 64 24 8 16 11 34 9 17 1 14 26 8 17 429 1 4 34 20 13 13 12 30 12 13 30 5 53 228 0 14 11 19 8
% Change % Change from March from April 2011 2010 -28% -36% 0% 0% 32% -15% -32% -33% -61% -59% -55% -25% 83% -50% -54% -11% -78% 38% -31% 0% -43% -39% -44% 8% -55% 31% -30% 27% -25% 50% 50% -5% -22% -17% -36% -12% -43%
-49% -38% -67% -50% -26% -45% -46% -50% -56% -36% -56% -33% -35% 0% -57% -8% -75% 29% -17% 200% 0% -59% -50% 8% -62% 42% -47% 17% -54% 20% 20% -64% -41% --50% -36% -21% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties- April 2011, Continued April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* 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
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
2,444 1,868 471 2,063 1,510 992 2,864 740 -1,296 1,462 1,016 1,628 925 3,216 713 2,730 1,008 628 1,524 1,079 730 1,367 1,284 996 909 3,001 4,845 1,456 -647 2,235 1,077 1,248 989 811 9,427
76 63 2 68 51 92 20 81 9 92 38 49 23 54 15 86 7 78 22 4 52 28 8 41 37 21 14 83 89 48 92 6 73 27 36 18 11 91
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
7 8 14 2 6 4 22 6 217 4 9 12 6 26 30 4 80 4 23 62 19 9 11 11 65 1 3 5 1 2 0 9 31 15 29 34 158 5
12 13 18 2 6 5 29 3 298 1 40 21 6 12 35 10 75 12 28 82 45 18 11 26 81 2 8 16 4 2 1 9 29 12 22 46 186 0
% Change % Change from March from April 2011 2010 -29% 13% 43% 0% 0% -100% 5% -50% 23% -100% 0% 0% -17% -65% -27% -25% -24% 25% -43% -6% -21% 22% -27% 27% -17% 200% 200% 0% 100% 50% -44% -55% -13% -31% -24% -19% -80%
-58% -31% 11% 0% 0% -100% -21% 0% -10% -100% -78% -43% -17% -25% -37% -70% -19% -58% -54% -29% -67% -39% -27% -46% -33% 50% 13% -69% -50% 50% -100% 44% -52% 8% -9% -43% -31% --
Total Number of Properties with Foreclosure Filings-Tennessee Counties- April 2011, Continued April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
11 106 391 5 1 32 72 18 2 3 5 2 8 32 4 6 5 100 40 2,632 219,258
481 413 1,030 1,676 6,397 2,332 891 1,310 1,732 2,878 1,870 1,301 2,206 1,700 1,784 2,640 2,153 633 1,119 1,057 593
3 1 24 56 90 75 13 40 60 82 64 39 71 57 62 77 70 5 30 27
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
12 86 583 9 1 32 100 27 4 5 6 1 8 34 5 5 6 76 50 3,207 239,795
6 120 1,613 9 2 37 91 28 2 8 11 2 15 43 2 11 10 148 80 4,789 333,837
% Change % Change from March from April 2011 2010 -8% 23% -33% -44% 0% 0% -28% -33% -50% -40% -17% 100% 0% -6% -20% 20% -17% 32% -20% -18% -9%
*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®
83% -12% -76% -44% -50% -14% -21% -36% 0% -63% -55% 0% -47% -26% 100% -45% -50% -32% -50% -45% -34%
April 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 April 2011, there were 1,073 properties with a notice of trustee sales (NTS), a 6 percent increase from the last month and a 57 percent decline from the same month last year (April 2010). The number of properties repossessed by the lenders (REOs) in April 2011 was 1,559, a 29 percent decrease from the last month (March 2011) and a 32 percent decline from the same month last year (April 2010).
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
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 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11
0
NTS (Notice of Trustee Sales)
Source: RealtyTrac
REO
TOTAL
Total Number of Properties with Foreclosure Filings-Tennessee Counties-April 2011 April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* 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
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
1,914 980 3,030 2,734 1,447 1,197 1,498 1,434 1,953 3,952 1,064 1,144 1,384 4,212 2,791 982 3,215 1,119 803 2,273 2,233 1,454 1,723 1,067 1,607 1,131 1,431 989 1,727 866 1,108 1,411 1,119 -1,644 1,950 1,757 2,146
65 16 84 79 46 35 50 45 67 87 25 34 42 88 80 17 85 31 10 74 72 47 58 26 53 33 44 19 59 12 29 43 32 92 55 66 61 69
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
25 28 3 2 28 41 19 6 18 17 33 8 6 2 13 27 9 16 511 3 7 23 18 13 11 13 23 11 8 24 4 20 172 0 6 11 17 7
35 29 9 4 50 64 24 8 16 11 34 9 17 1 14 26 8 17 429 1 4 34 20 13 13 12 30 12 13 30 5 53 228 0 14 11 19 8
% Change % Change from March from April 2011 2010 -28% -36% 0% 0% 32% -15% -32% -33% -61% -59% -55% -25% 83% -50% -54% -11% -78% 38% -31% 0% -43% -39% -44% 8% -55% 31% -30% 27% -25% 50% 50% -5% -22% -17% -36% -12% -43%
-49% -38% -67% -50% -26% -45% -46% -50% -56% -36% -56% -33% -35% 0% -57% -8% -75% 29% -17% 200% 0% -59% -50% 8% -62% 42% -47% 17% -54% 20% 20% -64% -41% --50% -36% -21% -50%
Total Number of Properties with Foreclosure Filings-Tennessee Counties- April 2011, Continued April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* 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
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
2,444 1,868 471 2,063 1,510 992 2,864 740 -1,296 1,462 1,016 1,628 925 3,216 713 2,730 1,008 628 1,524 1,079 730 1,367 1,284 996 909 3,001 4,845 1,456 -647 2,235 1,077 1,248 989 811 9,427
76 63 2 68 51 92 20 81 9 92 38 49 23 54 15 86 7 78 22 4 52 28 8 41 37 21 14 83 89 48 92 6 73 27 36 18 11 91
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
7 8 14 2 6 4 22 6 217 4 9 12 6 26 30 4 80 4 23 62 19 9 11 11 65 1 3 5 1 2 0 9 31 15 29 34 158 5
12 13 18 2 6 5 29 3 298 1 40 21 6 12 35 10 75 12 28 82 45 18 11 26 81 2 8 16 4 2 1 9 29 12 22 46 186 0
% Change % Change from March from April 2011 2010 -29% 13% 43% 0% 0% -100% 5% -50% 23% -100% 0% 0% -17% -65% -27% -25% -24% 25% -43% -6% -21% 22% -27% 27% -17% 200% 200% 0% 100% 50% -44% -55% -13% -31% -24% -19% -80%
-58% -31% 11% 0% 0% -100% -21% 0% -10% -100% -78% -43% -17% -25% -37% -70% -19% -58% -54% -29% -67% -39% -27% -46% -33% 50% 13% -69% -50% 50% -100% 44% -52% 8% -9% -43% -31% --
Total Number of Properties with Foreclosure Filings-Tennessee Counties- April 2011, Continued April 2011 March 2011 April 2010 Percent Changes Total Number of Properties with 1/every X Ranking Foreclosure Housing among all County Name Filings Unit (Rate) counties* Sequatchie Sevier Shelby Smith Stewart Sullivan Sumner Tipton Trousdale Unicoi Union Van Buren Warren Washington Wayne Weakley White Williamson Wilson Tennessee** U.S. Total
11 106 391 5 1 32 72 18 2 3 5 2 8 32 4 6 5 100 40 2,632 219,258
481 413 1,030 1,676 6,397 2,332 891 1,310 1,732 2,878 1,870 1,301 2,206 1,700 1,784 2,640 2,153 633 1,119 1,057 593
3 1 24 56 90 75 13 40 60 82 64 39 71 57 62 77 70 5 30 27
Total Number of Properties with Foreclosure Filings
Total Number of Properties with Foreclosure Filings
12 86 583 9 1 32 100 27 4 5 6 1 8 34 5 5 6 76 50 3,207 239,795
6 120 1,613 9 2 37 91 28 2 8 11 2 15 43 2 11 10 148 80 4,789 333,837
% Change % Change from March from April 2011 2010 -8% 23% -33% -44% 0% 0% -28% -33% -50% -40% -17% 100% 0% -6% -20% 20% -17% 32% -20% -18% -9%
*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®
83% -12% -76% -44% -50% -14% -21% -36% 0% -63% -55% 0% -47% -26% 100% -45% -50% -32% -50% -45% -34%
April 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
