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: March 30, 2004
                (Date of earliest event reported)

             FIRST HORIZON ASSET SECURITIES INC., (as
       depositor under the Pooling and Servicing Agreement,
    dated as of March 1, 2004, providing for the issuance of
      the First Horizon Mortgage Pass-Through Trust 2004-2,
        Mortgage Pass-Through Certificates, Series 2004-2).

               FIRST HORIZON ASSET SECURITIES INC.
     (Exact name of Registrant as specified in its charter)


      Delaware             333-110100           75-2808384
     (State of        (Commission File No.)  (I.R.S. Employer
   Incorporation)                            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


<PAGE>

Item 5.   Other Events.
          ------------

     Reference is hereby made to the Registrant's Registration
Statement on Form S-3 (File No. 333-110100) filed with the Securities
and Exchange Commission (the "Commission") on October 30, 2003
(the "Registration Statement"), pursuant to which the Registrant
registered $6,000,000,000 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 March 29, 2004, with
respect to the Registrant's Mortgage Pass-Through Certificates, Series
2004-2 (the "Offered Securities").

     Pursuant to a Mortgage Loan Purchase Agreement dated as of
March 30, 2004 ("MLPA I"), by and between First Horizon Home Loan
Corporation ("FHHLC") and First Tennessee Bank National Association
("FTBNA"), FHHLC sold a pool of fixed rate, one-to four-family
residential, first lien mortgage loans (the "Mortgage Loans") to
FTBNA.  Pursuant to a Mortgage Loan Purchase Agreement dated as of
March 30, 2004 ("MLPA II"), by and between FTBNA and the Registrant,
FTBNA sold the Mortgage Loans to the Registrant.  Copies of MLPA I
and MLPA II are filed herewith as Exhibit 10.1 and Exhibit 10.2,
respectively.

     On March 30, 2004, 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 March 1, 2004 (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 $283,133,100 have been sold by the
Registrant to (i) FTBNA pursuant to an Underwriting Agreement dated
as of November 20, 2003 (the "FTBNA Underwriting Agreement"), as
supplemented by a Terms Agreement dated as of March 24, 2004, each
by and among FTBNA, the Registrant and FHHLC and (ii) Countrywide
Securities Corporation ("Countrywide") pursuant to an Underwriting
Agreement dated as of May 23, 2002 (the "Countrywide Underwriting
Agreement"), as supplemented by a Terms Agreement dated as of March
24, 2004, each by and among Countrywide, the Registrant and FHHLC.
The FTBNA Underwriting Agreement and the Countrywide Underwriting
Agreement have been previously filed with the Commission and are
incorporated herein by reference as Exhibit 1.1 and Exhibit 1.2,
respectively.


                               -2-

<PAGE>

Item 7.   Financial Statements and Exhibits.

     (c)  Exhibits

          Exhibit No.   Description
          -----------   -----------

             1.1        Underwriting Agreement dated as
                        of November 20, 2003, by and
                        among FTBNA, the Registrant and
                        FHHLC*

             1.2        Underwriting Agreement dated as of
                        May 23, 2002, by and among Countrywide,
                        the Registrant and FHHLC.**

             4.1        Pooling and Servicing Agreement dated as
                        of March 1, 2004, 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 March 30, 2004, by and between FHHLC, as
                        Seller, and FTBNA, as Purchaser

            10.2        Mortgage Loan Purchase Agreement dated as
                        of March 30, 2004, by and between FTBNA, as
                        Seller, and the Registrant, as Purchaser











           *     Previously filed with the Commission on December 15, 2003
                 as Exhibit 1.1 to the Registrant's Current Report on Form
                 8-K (No. 333-73524)

          **     Previously filed with the Commission on June 10, 2002,
                 as Exhibit 1.2 to the Registrant's Current Report on
                 Form 8-K (No. 333-73524)



<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.



April 13, 2004             By:  /s/ Wade Walker
                              ----------------------------------
                              Wade Walker
                              Senior Vice President - Asset
                                Securitization











<PAGE>



                        INDEX TO EXHIBITS


    Exhibit No.
    -----------

        1.1        Underwriting Agreement dated as of November 20, 2003,
                   by and among FTBNA, the Registrant and FHHLC*

        1.2        Underwriting Agreement dated as of May 23, 2002, by
                   and among Countrywide, the Registrant and FHHLC.**

        4.1        Pooling and Servicing Agreement dated as of March 1,
                   2004, 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 March 30,
                   2004, by and between FHHLC, as Seller, and FTBNA, as
                   Purchaser

       10.2        Mortgage Loan Purchase Agreement dated as of March 30,
                   2004, by and between FTBNA, as Seller, and the
                   Registrant, as Purchaser











           *     Previously filed with the Commission on December 15, 2003
                 as Exhibit 1.1 to the Registrant's Current Report on Form
                 8-K (No. 333-73524)

          **     Previously filed with the Commission on June 10, 2002,
                 as Exhibit 1.2 to the Registrant's Current Report on
                 Form 8-K (No. 333-73524)