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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</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">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="justify"><br></div>
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        Exchange Act of 1934</font></div>
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        of
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          the
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          provisions:</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2"><font style="FONT-FAMILY: Wingdings">o</font></font></div>
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                <div>&#160;<font size="2">Written communications pursuant to Rule 425
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                <div>&#160;</div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2"><font style="FONT-FAMILY: Wingdings">o</font></font></div>
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                <div>&#160;<font size="2">Soliciting material pursuant to Rule 14a-12
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                <div>&#160;</div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2"><font style="FONT-FAMILY: Wingdings">o</font></font></div>
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              <td width="80%">
                <div>&#160;<font size="2">Pre-commencement communications pursuant to
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              <td width="80%">
                <div>&#160;<font size="2">Pre-commencement communications pursuant to
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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">Item
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        is hereby made to the Registrant&#8217;s Registration Statement on Form S-3 (File No.
        333-119657) filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;)
        on October 20, 2004 (the &#8220;Registration Statement&#8221;), pursuant to which the
        Registrant registered $10,000,000,000 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
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        Supplement dated June 24, 2005 (collectively, the &#8220;Prospectus&#8221;), which will be
        filed with the Commission pursuant to Rule 424(b)(5), with respect to the
        Registrant&#8217;s Mortgage Pass-Through Certificates, Series 2005-AR3 (the &#8220;Offered
        Securities&#8221;).</font></div>
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        Registrant is filing this Current Report on Form 8-K to file the supplemental
        legality opinion of Andrews Kurth LLP as Exhibit 5.2 to the Registration
        Statement and the related consent as Exhibit 23.2.</font></div>
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              <td width="15%">&#160;<font size="2">Item 9.01.</font></td>
              <td width="25%">&#160;<font size="2"><u>Financial Statements and
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              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="15%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(c)</font></div>
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              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
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            <tr bgcolor="#ffffff">
              <td width="15%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
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              <td width="25%">&#160;<font size="2"><u>Exhibit No</u><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></font></td>
              <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></td>
              <td width="25%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="15%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
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              <td width="15%">&#160;</td>
              <td width="25%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2</font></td>
              <td width="25%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legality
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              <td width="25%">&#160;</td>
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            <tr bgcolor="#ffffff">
              <td width="15%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
              <td width="25%">&#160;</td>
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              <td width="15%">&#160;</td>
              <td width="25%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2</font></td>
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                5.2)</font></td>
            </tr>

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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">-2-</font></div>
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        duly authorized.</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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            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;FIRST
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            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;
                June 30, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
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                Alfred Chang</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                Vice President</font></td>
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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": "05929562"}, "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: June 30, 2005
(Date
        of
        earliest event reported)
FIRST
        HORIZON ASSET SECURITIES INC.
(Exact
        name of Registrant as specified in its charter)
Delaware
333-119657
75-2808384
(State
                  of Incorporation)
(Commission
                  File No.)
(I.R.S.
                  Employer
Identification
                  No.)
4000
                      Horizon Way
Irving,
                      Texas
(Address
                      of Principal executive
                      offices)
75063
(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.
        333-119657) filed with the Securities and Exchange Commission (the "Commission")
        on October 20, 2004 (the "Registration Statement"), pursuant to which the
        Registrant registered $10,000,000,000 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 February 25, 2005 and the related Prospectus
        Supplement dated June 24, 2005 (collectively, the "Prospectus"), which will be
        filed with the Commission pursuant to Rule 424(b)(5), with respect to the
        Registrant's Mortgage Pass-Through Certificates, Series 2005-AR3 (the "Offered
        Securities").
The
        Registrant is filing this Current Report on Form 8-K to file the supplemental
        legality opinion of Andrews Kurth LLP as Exhibit 5.2 to the Registration
        Statement and the related consent as Exhibit 23.2.
Item 9.01.
Financial Statements and
                Exhibits
.
(c)
Exhibits
Exhibit No
.
Description
5.2
Legality
                Opinion of Andrews Kurth LLP
23.2
Consent
                of Andrews Kurth LLP (contained in the opinion filed as Exhibit
                5.2)
-2-
Signatures
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        has
        duly caused this Report to be signed on its behalf by the undersigned hereunto
        duly authorized.
FIRST
                HORIZON ASSET SECURITIES INC.
Date: 
                June 30, 2005
By:
/s/ Alfred
                Chang
Name:
                Alfred Chang
Title:
                Vice President