The Volunteer State is the home of Elvis Presley and the Grand Old Opry, former Vice President Al Gore, presidential candidate Fred Thompson, and the NFL's Tennessee Titans. Economically, Tennessee is the home of textiles, cotton, cattle, and electricity production, as well as mega corporations such as FedEx Corp. (NYSE: FDX) and International Paper Co. (NYSE: IP). And it is also the home of four companies from Fortune's 2007 list of the fastest growing public companies in the U.S.: Psychiatric Solutions Inc. (NASDAQ: PSYS), Pinnacle Financial Partners (NASDAQ: PNFP), Miller Industries Inc. (NYSE: MLR), and First Acceptance Corp. (NYSE: FAC).

At number 49 on Fortune's list was Psychiatric Solutions (PSI), the Franklin-based health care provider, which has grown in part through acquisitions. It has 900 psychiatric hospitals in 30 states, and operates in-patient facilities for other hospitals and government organizations. PSI's three-year revenue growth was 50%; three-year earnings per share growth at 76%. In July, PSI reported a record second quarter and a Lehman Brothers analyst expects PSI to meet or beat expectations in the current quarter. The consensus of analysts surveyed by Thomson Financial is that PSI is a buy, but Standard & Poor's is among those that consider PSI a strong buy. The share price was $39.90 on at the close on Friday.

Nashville-based Pinnacle Financial Partners is the holding company for Pinnacle National Bank, and holds assets of more than $2 billion. Pinnacle's three-year revenue growth was 81%, and its three-year earnings per share growth was 46%. Despite a strong second quarter report, the share price dropped to a 52-week low of $21.62 in August, but has bounced back since to $30.63 at the close on Friday. In September, a Pinnacle director bought 5,000 common shares of PNFP, and Pinnacle was among southern regional banks considered good bets despite the current credit climate. Analysts surveyed by Thomson Financial consider Pinnacle Financial a buy.

Miller Industries, number 68 on Fortune's list, is a Ooltewah-based tow truck and car carrier manufacturer with plants in the U.S. and Europe. Miller's three-year revenue growth was 30%, with three-year earnings per share growth of 145%. In August, Miller reported solid second quarter results, but comments by the CEO about the rest of 2007 spooked investors. The share price dived, and has yet to fully recover; it was $17.95 at the close on Friday. However, the Motley Fool included Miller in its bargain bin for its long-term potential. The Fool also included Miller in a watch list of small caps in sleepy industries.

At number 32 on Fortune's list, the highest Tennessee company, as well as the highest rated financial services company, was Nashville-based auto insurer First Acceptance. This company specializes in insuring drivers with poor credit or driving histories. Its three-year revenue growth was a whopping 277%; its three-year earnings per share growth 105%. However, the share price dropped 34% to $5.05 after First Acceptance recently reported a fourth-quarter loss of $23.9 million. In September the Motley Fool included First Acceptance on a contrarian shopping list, but the share price fell again on Friday to $4.50, an all-time low. If First Acceptance's growth isn't over, this could be a bargain.

I do not own shares in these stocks. As always, be sure to do your homework before investing.
See also: Investing in New Jersey, Investing in Wisconsin, and Investing in Nebraska.