1 EXHIBIT 8 B A S S, B E R R Y & S I M S P L C A PROFESSIONAL LIMITED LIABILITY COMPANY ATTORNEYS AT LAW 2700 FIRST AMERICAN CENTER 1700 RIVERVIEW TOWER NASHVILLE, TENNESSEE 37238-2700 POST OFFICE BOX 1509 TELEPHONE (615) 742-6200 KNOXVILLE, TENNESSEE 37901-1509 TELECOPIER (615) 742-6293 TELEPHONE (423) 521-6200 TELECOPIER (423) 521-6234 August 10, 1998 Board of Directors First American Corporation First American Center Nashville, TN 37237-0700 Board of Directors Peoples Bank 601 Highway 601, South Dickson, Tennessee 37056 RE: FIRST AMERICAN CORPORATION REGISTRATION STATEMENT ON FORM S-4 Ladies and Gentlemen: We have acted as counsel to Peoples Bank, a Tennessee banking corporation ("Peoples"), in connection with a proposed reorganization to be effected through a merger (the "Merger") of First American Interim Bank, a Tennessee state-chartered bank ("Interim Bank") a wholly owned subsidiary of First American Corporation, a Tennessee corporation ("First American"), with Peoples being the surviving corporation, pursuant to the terms of the Agreement and Plan of Merger dated as of April 21, 1998 between Peoples and First American (the "Merger Agreement") and as described in the Registration Statement on Form S-4 to be filed with the Securities and Exchange Commission today (the "Registration Statement"). This opinion is being rendered pursuant to the requirements of Item 21(a) of Form S-4 under the Securities Act of 1933, as amended. In connection with this opinion, we have examined and are familiar with originals or copies of (i) the Merger Agreement, (ii) the facts set forth in the Registration Statement, and (iii) such other documents as we have deemed necessary or appropriate in order to enable us to render the opinions below. This opinion is subject to the receipt by us prior to the Effective Date of certain written representations and covenants of Peoples, First American and Interim Bank. Based upon and subject to the foregoing, in our opinion the discussion contained in the prospectus included as part of the Registration Statement (the "Prospectus") under the captions "Summary -- Federal Income Tax Consequences" and "Certain Federal Income Tax Consequences," subject to the conditions and limitations set forth therein, sets forth the material Federal income tax consequences generally applicable to the Merger. The opinions expressed herein are expressly premised and conditioned upon the consummation of the Merger pursuant to the terms and conditions of the Merger Agreement. Our opinions are also based upon the application of existing law to the instant transaction. You should note that future 2 Board of Directors Page 2 June 18, 1998 legislative changes, administrative pronouncements and judicial decisions could materially alter the conclusions reached herein. There can be no assurance that contrary positions may not be taken by the Internal Revenue Service or by the courts. This opinion is furnished to you solely for use in connection with the Registration Statement. We hereby consent to the use of our name in the Registration Statement and to the filing of this letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange Commission promulgated thereunder. We have rendered the foregoing opinion for the sole benefit and use of First American, its Board of Directors, the shareholders of First American, Peoples, its Board of Directors and the Peoples shareholders and the views herein may not be relied upon or furnished to any other person without our prior written consent. Sincerely, /s/ Bass, Berry & Sims PLC Bass, Berry & Sims PLC