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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>
    <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">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</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">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: December 29, 2005</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">(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., (as depositor under the Pooling and
      Servicing</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">&#160;Agreement,
      dated as of December 1, 2005, providing for the issuance of the First Horizon
      </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">Alternative
      Mortgage Securities Trust 2005-AA12, Mortgage Pass-Through Certificates, Series
      2005-AA12). </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.</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">(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>
    <div>
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          <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">Delaware</font></div>
            </td>
            <td valign="top" width="27%">
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            </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>
          <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">(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>

      </table>
    </div>
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    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="34%">
              <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="19%">&#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="34%">
              <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="19%">&#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>
            </td>
          </tr>

      </table>
    </div>
    <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>
    <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>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
            <td align="left" valign="bottom">
              <div align="justify"><font size="2">Written communications pursuant
                to Rule
                425 under the Securities Act (17 CFR
                230.425)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
            <td align="left" valign="bottom">
              <div align="justify"><font size="2">Soliciting material pursuant
                to Rule
                14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
            <td align="left" valign="bottom">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
            </td>
          </tr>

      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;">&#160;</td>
            <td align="left" valign="bottom">&#160;</td>
          </tr>

      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font face="Wingdings">o</font></td>
            <td align="left" valign="bottom"><font size="2">Pre-commencement communications
              pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
              240.13e-4(c))</font></td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
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        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        8.01.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#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>
    <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;Commission&#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 and the related Prospectus Supplement
      (collectively, the &#8220;Prospectus&#8221;), which was filed with the Commission pursuant
      to Rule 424(b)(5) on December 21, 2005, with respect to the Registrant&#8217;s
      Mortgage Pass-Through Certificates, Series 2005-AA12 (the &#8220;Offered
      Securities&#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">Pursuant
      to a Mortgage Loan Purchase Agreement dated as of December 29, 2005 (&#8220;MLPA&#8221;), by
      and between First Horizon Home Loan Corporation (&#8220;FHHLC&#8221;) and First Horizon
      Asset Securities Inc. (&#8220;FHASI&#8221;), FHHLC sold three pools of primarily 30-year
      adjustable rate, first lien, fully amortizing, one-to-four family residential
      mortgage loans (the &#8220;Mortgage Loans&#8221;) to FHASI. A copy of the MLPA is filed
      herewith as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
      10.1</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">On
      December 29, 2005, the Registrant caused the issuance and sale of the Offered
      Securities. The Offered Securities evidence a beneficial ownership interest
      in
      the Mortgage Loans. The Offered Securities were created pursuant to a Pooling
      and Servicing Agreement dated as of December 1, 2005 (the &#8220;Pooling and Servicing
      Agreement&#8221;) by and among the Registrant, as Depositor, FHHLC, as Master
      Servicer, and The Bank of New York, as Trustee. A copy of the Pooling and
      Servicing Agreement is filed herewith as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
      4.1</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">The
      Offered Securities, having an aggregate principal balance of approximately
      $325,537,100, have been sold by the Registrant to Bear, Stearns &amp; Co. Inc.
      (&#8220;Bear Stearns&#8221;) pursuant to an Underwriting Agreement dated as of July 24, 2002
      (the &#8220;Bear Stearns Underwriting Agreement&#8221;), as supplemented by a Terms
      Agreement dated as of December 21, 2005 (the &#8220;Bear Stearns Terms Agreement&#8221;),
      each by and among Bear Stearns, the Registrant and FHHLC. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Bear
      Stearns Underwriting Agreement was previously filed with the Commission and
      is
      incorporated herein by reference as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibits
      1.1</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Bear
      Stearns Terms Agreement is filed herewith as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibits
      1.2</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      </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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      9.01<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#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 style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits</font></div>
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    <div align="center">
      <table bgcolor="white" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%"><u><font size="2">Exhibit No.</font></u></td>
            <td width="81%"><u><font size="2">Description</font></u></td>
          </tr>
          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%">&#160;</td>
            <td width="81%">&#160;</td>
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            <td width="9%">&#160;</td>
            <td width="10%"><font size="2">1.1</font></td>
            <td width="81%"><font size="2">Underwriting Agreement dated July 24,
              2002,
              by and among Bear Stearns, the Registrant and FHHLC *</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%">&#160;</td>
            <td width="81%">&#160;</td>
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          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%"><font size="2">1.2</font></td>
            <td width="81%"><font size="2">Terms Agreement dated December 21, 2005
              to
              Underwriting Agreement dated December 21, 2005, by and among Bear Stearns,
              the Registrant and FHHLC</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%">&#160;</td>
            <td width="81%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="9%">&#160;</td>
            <td width="10%"><font size="2">4.1</font></td>
            <td width="81%"><font size="2">Pooling and Servicing Agreement dated
              as of
              December 1, 2005, by and among the Registrant, as Depositor, FHHLC,
              as
              Master Servicer, and The Bank of New York, as Trustee</font></td>
          </tr>
          <tr bgcolor="white">
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            <td width="10%">&#160;</td>
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        Previously filed with the Commission on August 6, 2002, as Exhibit 1.1 to
        the
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    <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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      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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

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            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">FIRST
              HORIZON
              ASSET SECURITIES INC.</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">January
              6, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Alfred
              Chang</font></td>
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              Chang</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Vice
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    </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Signature
      Page for Form 8-K</font></div>
    <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">(2005-AA12
      Issuance of Certificates)</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      TO
      EXHIBITS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
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              <td width="9%">&#160;</td>
              <td width="10%"><u><font size="2">Exhibit No.</font></u></td>
              <td width="81%"><u><font size="2">Description</font></u></td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%"><font size="2">1.1</font></td>
              <td width="81%"><font size="2">Underwriting Agreement dated July
                24, 2002,
                by and among Bear Stearns, the Registrant and FHHLC *</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%">&#160;</td>
              <td width="81%">&#160;</td>
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              <td width="10%"><font size="2">1.2</font></td>
              <td width="81%"><font size="2">Terms Agreement dated December 21,
                2005 to
                Underwriting Agreement dated December 21, 2005, by and among Bear
                Stearns,
                the Registrant and FHHLC</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%"><font size="2">4.1</font></td>
              <td width="81%"><font size="2">Pooling and Servicing Agreement dated
                as of
                December 1, 2005, by and among the Registrant, as Depositor, FHHLC,
                as
                Master Servicer, and The Bank of New York, as Trustee</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%">&#160;</td>
              <td width="81%">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="9%">&#160;</td>
              <td width="10%"><font size="2">10.1</font>&#160;</td>
              <td width="81%"><font size="2">Mortgage Loan Purchase Agreement dated
                as of
                December 29, 2005, by and between FHHLC, as Seller, and FHASI, as
                Purchaser</font></td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div><font size="2">* Previously filed with the Commission on August 6, 2002,
      as
      Exhibit 1.1 to the Registrant&#8217;s Current Report on Form 8-K
      (No.333-73524)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 225pt">&#160;</font></div>
    <div>&#160;</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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">5</font></div>
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          <hr style="COLOR: black" noshade size="2">
        </div>
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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": "06516766"}, "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"}}
Unassociated Document
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: December 29, 2005
(Date
      of
      earliest event reported)
FIRST
      HORIZON ASSET SECURITIES INC., (as depositor under the Pooling and
      Servicing
Agreement,
      dated as of December 1, 2005, providing for the issuance of the First Horizon
Alternative
      Mortgage Securities Trust 2005-AA12, Mortgage Pass-Through Certificates, Series
      2005-AA12).
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 and the related Prospectus Supplement
      (collectively, the "Prospectus"), which was filed with the Commission pursuant
      to Rule 424(b)(5) on December 21, 2005, with respect to the Registrant's
      Mortgage Pass-Through Certificates, Series 2005-AA12 (the "Offered
      Securities").
Pursuant
      to a Mortgage Loan Purchase Agreement dated as of December 29, 2005 ("MLPA"), by
      and between First Horizon Home Loan Corporation ("FHHLC") and First Horizon
      Asset Securities Inc. ("FHASI"), FHHLC sold three pools of primarily 30-year
      adjustable rate, first lien, fully amortizing, one-to-four family residential
      mortgage loans (the "Mortgage Loans") to FHASI. A copy of the MLPA is filed
      herewith as
Exhibit
      10.1
.
On
      December 29, 2005, the Registrant caused the issuance and sale of the Offered
      Securities. The Offered Securities evidence a beneficial ownership interest
      in
      the Mortgage Loans. The Offered Securities were created pursuant to a Pooling
      and Servicing Agreement dated as of December 1, 2005 (the "Pooling and Servicing
      Agreement") by and among the Registrant, as Depositor, FHHLC, as Master
      Servicer, and The Bank of New York, as Trustee. A copy of the Pooling and
      Servicing Agreement is filed herewith as
Exhibit
      4.1
.
The
      Offered Securities, having an aggregate principal balance of approximately
      $325,537,100, have been sold by the Registrant to Bear, Stearns & Co. Inc.
      ("Bear Stearns") pursuant to an Underwriting Agreement dated as of July 24, 2002
      (the "Bear Stearns Underwriting Agreement"), as supplemented by a Terms
      Agreement dated as of December 21, 2005 (the "Bear Stearns Terms Agreement"),
      each by and among Bear Stearns, the Registrant and FHHLC.
The
      Bear
      Stearns Underwriting Agreement was previously filed with the Commission and
      is
      incorporated herein by reference as
Exhibits
      1.1
.
The
      Bear
      Stearns Terms Agreement is filed herewith as
Exhibits
      1.2
.
2
Item
      9.01
Financial
      Statements and Exhibits
.
(c)
Exhibits
Exhibit No.
Description
1.1
Underwriting Agreement dated July 24,
              2002,
              by and among Bear Stearns, the Registrant and FHHLC *
1.2
Terms Agreement dated December 21, 2005
              to
              Underwriting Agreement dated December 21, 2005, by and among Bear Stearns,
              the Registrant and FHHLC
4.1
Pooling and Servicing Agreement dated
              as of
              December 1, 2005, by and among the Registrant, as Depositor, FHHLC,
              as
              Master Servicer, and The Bank of New York, as Trustee
10.1
Mortgage Loan Purchase Agreement dated
              as of
              December 29, 2005, by and between FHHLC, as Seller, and FHASI, as
              Purchaser
*
        Previously filed with the Commission on August 6, 2002, as Exhibit 1.1 to
        the
        Registrant's Current Report on Form 8-K (No.333-73524)
3
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.
January
              6, 2006
By:
/s/ Alfred
              Chang
Alfred
              Chang
Vice
              President
Signature
      Page for Form 8-K
(2005-AA12
      Issuance of Certificates)
4
INDEX
      TO
      EXHIBITS
Exhibit No.
Description
1.1
Underwriting Agreement dated July
                24, 2002,
                by and among Bear Stearns, the Registrant and FHHLC *
1.2
Terms Agreement dated December 21,
                2005 to
                Underwriting Agreement dated December 21, 2005, by and among Bear
                Stearns,
                the Registrant and FHHLC
4.1
Pooling and Servicing Agreement dated
                as of
                December 1, 2005, by and among the Registrant, as Depositor, FHHLC,
                as
                Master Servicer, and The Bank of New York, as Trustee
10.1
Mortgage Loan Purchase Agreement dated
                as of
                December 29, 2005, by and between FHHLC, as Seller, and FHASI, as
                Purchaser
* Previously filed with the Commission on August 6, 2002,
      as
      Exhibit 1.1 to the Registrant's Current Report on Form 8-K
      (No.333-73524)
5