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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="center"><br></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>
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      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: November 30, 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
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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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      HORIZON ASSET SECURITIES INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
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        <hr style="COLOR: #000000" align="center" noshade size="2" width="40%">
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      name of Registrant as specified in its charter)</font></div>
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      <div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="left" valign="top" width="30%" style="BORDER-BOTTOM: #000000 thin solid">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">Delaware</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font>&#160;</div>
                </td>
                <td width="4%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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                    333-125158</font>&#160;</div>
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                    File No.)</font>&#160;</div>
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                <td width="4%">&#160;</td>
                <td align="left" valign="top" width="32%">&#160;</td>
                <td width="4%">&#160;</td>
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                    No.)</font>&#160;&#160;</div>
                </td>
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        <div>&#160;</div>
        <div>
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              <tr>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">4000
                    Horizon Way</font>&#160;</div>
                </td>
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                <td align="left" valign="top" width="32%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="4%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="top" width="30%" style="BORDER-BOTTOM: #ffffff thin solid">
                </td>
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              <tr>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">Irving,
                    Texas</font>&#160;</div>
                </td>
                <td width="4%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="top" width="32%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="4%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="top" width="30%" style="BORDER-BOTTOM: #000000 thin solid">
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                </td>
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                <td align="left" valign="top" width="30%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Address
                    of Principal executive
                    offices)</font>&#160;</div>
                </td>
                <td width="4%">&#160;</td>
                <td align="left" valign="top" width="32%">&#160;</td>
                <td width="4%">&#160;</td>
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                    Code)</font>&#160;&#160;</div>
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                  satisfy the filing obligation of the registrant under any of the
                  following
                  provisions:</font></div>
              </td>
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            <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">
                <div><font size="2">Written communications pursuant to Rule 425
                  under the
                  Securities Act (17 CFR 230.425)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div>
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            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="left" style="WIDTH: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
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                <div><font size="2">Soliciting material pursuant to Rule 14a-12
                  under the
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      <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">
                <div><font size="2">Pre-commencement communications pursuant to
                  Rule
                  14d-2(b) under the Exchange Act (17 CFR
                  240.14d-2(b))</font></div>
              </td>
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      <div>&#160;</div>
      <div>
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            <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">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))</font></div>
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      <div>&#160;</div>
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    <div><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 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;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 dated July 29, 2005 and the related Prospectus
      Supplement dated November 28, 2005 (collectively, the &#8220;Prospectus&#8221;), which was
      filed with the Commission pursuant to Rule 424(b)(5) on November 28, 2005,
      with
      respect to the Registrant&#8217;s Mortgage Pass-Through Certificates, Series 2005-AA11
      (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>
    <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">&#160;</div>
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      <div align="left">
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">(c)</font>&#160;</div>
                </td>
                <td width="2%">&#160;</td>
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              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="left" valign="top" width="5%">&#160;</td>
                <td width="2%">&#160;</td>
                <td width="10%"><font size="2"><u>Exhibit No</u><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></font>&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="top" width="81%">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font>&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="5%">&#160;</td>
                <td width="2%">&#160;</td>
                <td width="10%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="top" width="81%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="5%">&#160;</td>
                <td width="2%">&#160;</td>
                <td width="10%">
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                </td>
                <td width="2%">&#160;</td>
                <td align="left" valign="top" width="81%">
                  <div><font size="2">Legality Opinion of Andrews Kurth
                    LLP</font>&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="5%">&#160;</td>
                <td width="2%">&#160;</td>
                <td width="10%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="top" width="81%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="5%">&#160;</td>
                <td width="2%">&#160;</td>
                <td width="10%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2</font>&#160;</div>
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                <td width="2%">&#160;</td>
                <td align="left" valign="top" width="81%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
                    of Andrews Kurth LLP (contained in the opinion filed as Exhibit
                    5.2)</font>&#160;</div>
                </td>
              </tr>

          </table>
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    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Signatures</u></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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      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
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      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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          <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>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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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;
              November 30, 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 id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt" size="3">&#160;</font></font></td>
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              <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">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">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": "051233880"}, "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: November 30, 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
Irving,
                    Texas
75063
(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 dated November 28, 2005 (collectively, the "Prospectus"), which was
      filed with the Commission pursuant to Rule 424(b)(5) on November 28, 2005,
      with
      respect to the Registrant's Mortgage Pass-Through Certificates, Series 2005-AA11
      (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)
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: 
              November 30, 2005
By:
/s/ 
              Alfred Chang
Alfred
              Chang
Vice
              President