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: August 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                                       (Zip Code)
    (Address of Principal executive
               offices)

       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:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
<PAGE>

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-AR4 (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 August 30,
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 FTN Financial Capital Markets, a division
of First Tennessee Bank National Association 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.
<PAGE>

      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 First
                              Tennessee Bank National Association
<PAGE>

                                   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.


                                       By: /s/ Alfred Chang
                                           -------------------------------------
                                           Alfred Chang
                                           Vice President

Dated:  August  25, 2005
{"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": "051050241"}, "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: August 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                                       (Zip Code)
    (Address of Principal executive
               offices)

       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:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   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-AR4 (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 August 30,
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 FTN Financial Capital Markets, a division
of First Tennessee Bank National Association 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 First
                              Tennessee Bank National Association
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.

                                       By: /s/ Alfred Chang
                                           -------------------------------------
                                           Alfred Chang
                                           Vice President

Dated:  August  25, 2005