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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
        AND EXCHANGE COMMISSION<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
        D.C. 20549</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
        8-K</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
        REPORT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to Section 13 or 15(d) of the<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
        Exchange Act of 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report: October 25, 2005<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Date
        of
        earliest event reported)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FIRST
        HORIZON ASSET SECURITIES INC.<br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of Registrant as specified in its charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delaware</font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">333-125158</font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">75-2808384</font></div>
              </td>
            </tr>
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              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  of Incorporation)</font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                  File No.)</font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                  No.)</font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="left">
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              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4000
                  Horizon Way</font></div>
              </td>
              <td valign="top" width="27%">&#160;</td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">75063</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Irving,
                  Texas</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of Principal executive offices)</font></div>
              </td>
              <td valign="top" width="27%">&#160;</td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
        Telephone Number, Including Area Code: (214) 441-4000</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
                  the appropriate box if the Form 8-K filing is intended to simultaneously
                  satisfy the filing obligation of the registrant under any of the
                  following
                  provisions:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;
                  Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)</font></div>
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              <td align="justify" valign="bottom" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;
                  Soliciting material pursuant to Rule 14a-12
                  under the Exchange Act (17 CFR 240.14a-12)</font></div>
              </td>
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            <tr>
              <td align="justify" valign="bottom" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;
                  Pre-commencement communications pursuant to
                  Rule 14d-2(b) under the Exchange Act (17 CFR
                  240.14d-2(b))</font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="bottom" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;
                  Pre-commencement communications pursuant to
                  Rule 13e-4(c) under the Exchange Act (17 CFR
                  240.13e-4(c))</font></div>
              </td>
            </tr>

        </table>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        8.01.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
        Events</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reference
        is hereby made to the Registrant&#8217;s Registration Statement on Form S-3 (File No.
        333-125158) filed with the Securities and Exchange Commission (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Commission</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
        on
        July 29, 2005 (the &#8220;Registration Statement&#8221;), pursuant to which the Registrant
        registered $12,000,000,000 aggregate principal amount of its mortgage
        pass-through certificates, issuable in various series, for sale in accordance
        with the provisions of the Securities Act of 1933, as amended. Reference
        is also
        hereby made to the Prospectus, dated July 29, 2005 and the related Prospectus
        Supplement to be filed with respect to the Registrant&#8217;s Mortgage Pass-Through
        Certificates, Series 2005-AA10 (the &#8220;Certificates&#8221;) to be filed with the
        Commission pursuant to Rule 424(b)(5) prior to the issuance and sale of the
        Certificates, which is expected to occur on or prior to October 28, 2005
        (collectively, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Prospectus</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Registrant is filing this Current Report on Form 8-K to provide prospective
        investors with certain materials which constitute &#8220;Computational Materials&#8221;
        within the meaning of the no-action letter dated May 20, 1994 issued by the
        Division of Corporation Finance of the Commission to Kidder, Peabody Acceptance
        Corporation I, Kidder, Peabody &amp; Co. Incorporated, and Kidder Structured
        Asset Corporation and the no-action letter dated May 27, 1994 issued by the
        Division of Corporation Finance of the Commission to the Public Securities
        Association (together, the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Kidder
        Letters</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
        the
        filing of which materials is a condition of the relief granted in such letters
        (such materials being the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Computational
        Materials</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;).
        The
        Computational Materials set forth in </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        99.1</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        were
        prepared solely by Goldman, Sachs &amp; Co. in connection with the offering of
        certain classes of the Registrant&#8217;s Mortgage Pass-Through Certificates, and the
        Registrant did not prepare or participate in the preparation of any such
        Computational Materials. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        assumptions used in preparing the Computational Materials were based upon
        a
        preliminary compilation of the underlying collateral and the estimated principal
        amount and other features of the Certificates. The actual features of the
        Certificates and a detailed description of the final constituency of the
        underlying collateral are set forth in the Prospectus. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due
        to
        the preliminary nature of the collateral and security information used in
        preparing the Computational Materials, no assurance can be given as to either
        the Computational Materials&#8217; or the underlying assumptions&#8217; accuracy,
        appropriateness or completeness in any particular context; nor can assurance
        be
        given as to whether the Computational Materials and/or the assumptions upon
        which they are based reflect present market conditions or future market
        performance. These Computational Materials should not be construed as either
        projections or predictions or as legal, tax, financial or accounting
        advice.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
        yields or weighted average lives shown in the Computational Materials are
        based
        on prepayment assumptions, and changes in such prepayment assumptions may
        dramatically affect such yields or weighted average lives. In addition, it
        is
        possible that prepayments on the collateral will occur at rates slower or
        faster
        than the rates shown in the attached Computational Materials. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Furthermore,
        unless otherwise provided, the Computational Materials assume no losses on
        the
        collateral and no interest shortfall. The specific characteristics of the
        Certificates may differ from those shown in the Computational Materials due
        to
        differences between the actual collateral and the hypothetical collateral
        used
        in preparing the Computational Materials. As noted above, the principal amount
        and designation of any security described in the Computational Materials
        are
        subject to change prior to issuance.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
        be
        advised that mortgage-backed securities may not be appropriate for all
        investors. Potential investors must be willing to assume, among other things,
        market price volatility, mortgage prepayments, yield curve and interest rate
        risks. Investors should make every effort to consider the risks of these
        securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
        statement or information contained in the Computational Materials shall be
        deemed to be modified or superseded for purposes of the Prospectus and the
        Registration Statement by statements or information contained in the
        Prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        9.01.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Financial
        Statements and Exhibits</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="center">
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">(c)</font></div>
              </td>
              <td width="2%">&#160;</td>
              <td width="10%"><font size="2">Exhibits</font></td>
              <td width="2%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="10%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="10%"><u><font size="2">Exhibit No.</font></u></td>
              <td width="2%">&#160;</td>
              <td width="81%"><u><font size="2">Description</font></u></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="2%">&#160;</td>
              <td valign="top" width="10%">&#160;</td>
              <td width="2%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="2%">&#160;</td>
              <td valign="top" width="10%"><font size="2">99.1</font></td>
              <td width="2%">&#160;</td>
              <td width="81%"><font size="2">Computational Materials prepared by
                Goldman,
                Sachs &amp; Co.</font></td>
            </tr>

        </table>
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FIRST
                HORIZON ASSET SECURITIES INC.</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;October
                25, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Alfred
                Chang</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Alfred
                Chang<br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
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{"company-data": {"conformed-name": "FIRST HORIZON ASSET SECURITIES INC", "cik": "0001081915", "assigned-sic": "6189", "irs-number": "752808384", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-74467", "film-number": "051155834"}, "business-address": {"street1": "4000 HORIZON WAY", "city": "IRVING", "state": "TX", "zip": "75063", "phone": "9724845600"}, "mail-address": {"street1": "4000 HORIZON WAY", "city": "IRVING", "state": "TX", "zip": "78063"}}
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
Pursuant
        to Section 13 or 15(d) of the
Securities
        Exchange Act of 1934
Date
        of
        Report: October 25, 2005
(Date
        of
        earliest event reported)
FIRST
        HORIZON ASSET SECURITIES INC.
(Exact
        name of Registrant as specified in its charter)
Delaware
333-125158
75-2808384
(State
                  of Incorporation)
(Commission
                  File No.)
(I.R.S.
                  Employer
Identification
                  No.)
4000
                  Horizon Way
75063
Irving,
                  Texas
(Address
                  of Principal executive offices)
(Zip
                  Code)
Registrant's
        Telephone Number, Including Area Code: (214) 441-4000
Check
                  the appropriate box if the Form 8-K filing is intended to simultaneously
                  satisfy the filing obligation of the registrant under any of the
                  following
                  provisions:
o
Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)
o
Soliciting material pursuant to Rule 14a-12
                  under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to
                  Rule 14d-2(b) under the Exchange Act (17 CFR
                  240.14d-2(b))
o
Pre-commencement communications pursuant to
                  Rule 13e-4(c) under the Exchange Act (17 CFR
                  240.13e-4(c))
Item
        8.01.
Other
        Events
.
Reference
        is hereby made to the Registrant's Registration Statement on Form S-3 (File No.
        333-125158) filed with the Securities and Exchange Commission (the "
Commission
")
        on
        July 29, 2005 (the "Registration Statement"), pursuant to which the Registrant
        registered $12,000,000,000 aggregate principal amount of its mortgage
        pass-through certificates, issuable in various series, for sale in accordance
        with the provisions of the Securities Act of 1933, as amended. Reference
        is also
        hereby made to the Prospectus, dated July 29, 2005 and the related Prospectus
        Supplement to be filed with respect to the Registrant's Mortgage Pass-Through
        Certificates, Series 2005-AA10 (the "Certificates") to be filed with the
        Commission pursuant to Rule 424(b)(5) prior to the issuance and sale of the
        Certificates, which is expected to occur on or prior to October 28, 2005
        (collectively, the "
Prospectus
").
The
        Registrant is filing this Current Report on Form 8-K to provide prospective
        investors with certain materials which constitute "Computational Materials"
        within the meaning of the no-action letter dated May 20, 1994 issued by the
        Division of Corporation Finance of the Commission to Kidder, Peabody Acceptance
        Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder Structured
        Asset Corporation and the no-action letter dated May 27, 1994 issued by the
        Division of Corporation Finance of the Commission to the Public Securities
        Association (together, the "
Kidder
        Letters
"),
        the
        filing of which materials is a condition of the relief granted in such letters
        (such materials being the "
Computational
        Materials
").
        The
        Computational Materials set forth in
Exhibit
        99.1
were
        prepared solely by Goldman, Sachs & Co. in connection with the offering of
        certain classes of the Registrant's Mortgage Pass-Through Certificates, and the
        Registrant did not prepare or participate in the preparation of any such
        Computational Materials.
The
        assumptions used in preparing the Computational Materials were based upon
        a
        preliminary compilation of the underlying collateral and the estimated principal
        amount and other features of the Certificates. The actual features of the
        Certificates and a detailed description of the final constituency of the
        underlying collateral are set forth in the Prospectus.
Due
        to
        the preliminary nature of the collateral and security information used in
        preparing the Computational Materials, no assurance can be given as to either
        the Computational Materials' or the underlying assumptions' accuracy,
        appropriateness or completeness in any particular context; nor can assurance
        be
        given as to whether the Computational Materials and/or the assumptions upon
        which they are based reflect present market conditions or future market
        performance. These Computational Materials should not be construed as either
        projections or predictions or as legal, tax, financial or accounting
        advice.
Any
        yields or weighted average lives shown in the Computational Materials are
        based
        on prepayment assumptions, and changes in such prepayment assumptions may
        dramatically affect such yields or weighted average lives. In addition, it
        is
        possible that prepayments on the collateral will occur at rates slower or
        faster
        than the rates shown in the attached Computational Materials.
Furthermore,
        unless otherwise provided, the Computational Materials assume no losses on
        the
        collateral and no interest shortfall. The specific characteristics of the
        Certificates may differ from those shown in the Computational Materials due
        to
        differences between the actual collateral and the hypothetical collateral
        used
        in preparing the Computational Materials. As noted above, the principal amount
        and designation of any security described in the Computational Materials
        are
        subject to change prior to issuance.
Please
        be
        advised that mortgage-backed securities may not be appropriate for all
        investors. Potential investors must be willing to assume, among other things,
        market price volatility, mortgage prepayments, yield curve and interest rate
        risks. Investors should make every effort to consider the risks of these
        securities.
Any
        statement or information contained in the Computational Materials shall be
        deemed to be modified or superseded for purposes of the Prospectus and the
        Registration Statement by statements or information contained in the
        Prospectus.
Item
        9.01.
Financial
        Statements and Exhibits
.
(c)
Exhibits
Exhibit No.
Description
99.1
Computational Materials prepared by
                Goldman,
                Sachs & Co.
Signatures
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        as of
        the date first written above has duly caused this Report to be signed on
        its
        behalf by the undersigned hereunto duly authorized.
FIRST
                HORIZON ASSET SECURITIES INC.
Date: October
                25, 2005
By:
/s/ Alfred
                Chang
Alfred
                Chang
Vice
                President