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                                  EXHIBIT 8.2

                      [ANDREWS & KURTH L.L.P. LETTERHEAD]


                                                        Supplemental Tax Opinion


                               November 21, 2000



First Horizon Asset Securities Inc.
4000 Horizon Way
Irving, Texas 75063

     Re:  First Horizon Asset Securities Inc.
          Mortgage Pass-Through Certificates,
          Series 2000-5

Ladies and Gentlemen:

     We have acted as counsel to First Horizon Asset Securities Inc., a Delaware
corporation (the "Company"), in connection with the issuance and sale by the
Company of (a) its Mortgage Pass-Through Certificates, Series 2000-5, Class A-1,
Class A-2, Class A-3, Class A-4, Class A-R, Class B-1, Class B-2 and Class B-3
(the "Publicly-Offered Certificates"), to Banc of America Securities LLC (the
"Underwriter"), pursuant to an Underwriting Agreement dated November 21, 2000,
as supplemented by a terms agreement thereto dated as of November 21, 2000, each
by and among First Horizon Home Loan Corporation, a Kansas corporation ("First
Horizon"), the Company and the Underwriter, and (b) its Mortgage Pass-Through
Certificates, Series 2000-5, Class B-4, Class B-5 and Class B-6 (the "Privately-
Offered Certificates"), to Banc of America Securities LLC (the "Initial
Purchaser"), pursuant to a Purchase Agreement dated November 21, 2000, as
supplemented by a terms agreement thereto dated as of November 21, 2000, each by
and among First Horizon, the Company and the Initial Purchaser. The Publicly-
Offered Certificates and the Privately-Offered Certificates are referred to
herein collectively as the "Certificates." The Certificates will be created
pursuant to a Pooling and Servicing Agreement dated as of November 1, 2000 (the
"Pooling and Servicing Agreement") by and among the Company, as Depositor, First
Horizon, as Seller and Master Servicer, and The Bank of New York, as Trustee,
and the Certificates will evidence the entire beneficial ownership interest in a
trust fund (the "Trust Fund"), the assets of which will consist primarily of
first lien, single family residential mortgage loans.

     The Publicly-Offered Certificates have been registered by means of a
Registration Statement of the Company on Form S-3 under the Securities Act of
1933, as amended (the "Securities Act"), under File No. 333-74467 which
Registration Statement was declared effective by the Securities and Exchange
Commission on January 26, 2000 (such Registration Statement, as amended to the
date hereof, herein called the "Registration Statement"). We have participated
in the preparation of the Registration Statement with respect to the Publicly-
Offered Certificates and the Prospectus dated July 20, 2000 (the "Base
Prospectus") and the related Prospectus Supplement dated September 19,
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2000 (the "Prospectus Supplement"), which Prospectus and Prospectus Supplement
will be filed by the Company with the Securities and Exchange Commission (the
"Commission") pursuant to Rule 424 under the Securities Act (the Base Prospectus
and the Prospectus Supplement, collectively, the "Prospectus").

     In connection with the foregoing, we have examined the originals or copies,
certified or otherwise authenticated to our satisfaction, of the Registration
Statement, the Prospectus and of such other instruments and documents as we have
deemed necessary to review as a basis for the opinion hereinafter expressed. In
such examination, we have assumed the genuineness of all signatures, the
authenticity of all documents submitted to us as originals, the conformity to
original documents of all documents submitted to us as copies, and the
authenticity of the originals of such documents submitted as copies.

     Based upon the foregoing and in reliance thereon, we are of the opinion
that:

     Assuming (1) an election will be properly made to treat the assets of the
     Trust Fund as a "real estate mortgage investment conduit" (REMIC) for
     Federal income tax purposes, (2) compliance with all provisions of the
     Pooling and Servicing Agreement, and (3) continuing compliance with the
     applicable provisions of the Code as it may be amended from time to time
     and any applicable Treasury regulations adopted thereunder, the Trust Fund
     will qualify as a REMIC within the meaning of Section 860D of the Code,
     each of the Certificates, other than the Class A-R Certificates, issued
     pursuant to the Pooling and Servicing Agreement represents a "regular
     interest" in a REMIC within the meaning of Section 860G(a)(1) of the Code
     and the Class A-R Certificates represent the sole "residual interest" in a
     REMIC within the meaning of Section 860G(a)(2) of the Code.

     Our opinion is based upon our interpretations of current law, including
court authority and existing Final and Temporary Regulations, which are subject
to change both prospectively and retroactively, and upon the facts and
assumptions discussed herein. This opinion letter is limited to the matters set
forth herein, and no opinion is intended to be implied or may be inferred beyond
that expressly stated herein. Our opinion is rendered as of the date hereof and
we assume no obligation to update or supplement this opinion or any matter
related to this opinion to reflect any change of fact, circumstances, or law
after the date hereof. In addition, our opinion is based on the assumption that
the matters addressed therein will be properly presented to the applicable
court. We must note that our opinion represents merely our best legal judgment
on the matter presented and that others may disagree with our conclusion. Our
opinion is not binding on the Internal Revenue Service or any court and there
can be no assurance that the Internal Revenue Service will not take a contrary
position or that a court would agree with our opinion if litigated. In the event
any one of the statements, representations or assumptions we have relied upon to
issue this opinion is incorrect, our opinion might be adversely affected and may
not be relied upon.

     We consent to the use and incorporation by reference of this opinion in the
Registration Statement. In giving such consent we do not imply or admit that we
are within the category of persons whose consent is required under Section 7 of
the 1933 Act or the rules and regulations of the Commission thereunder.


                                  EXH. 8.2-2
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     We express no opinion as to the laws of any jurisdiction other than the
laws of the United States.

                                            Respectfully submitted,

                                            /s/ ANDREWS & KURTH L.L.P.



                                  EXH. 8.2-3