-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CrFRS611hyWTD5GmrL1zpVZFJL5XgqaJL7I0n3IadIMxgAZAePWr8l9quEvQUGgg
 DXMj18E03063Jdymd4L99Q==

<SEC-DOCUMENT>0001209191-03-034034.txt : 20031208
<SEC-HEADER>0001209191-03-034034.hdr.sgml : 20031208
<ACCEPTANCE-DATETIME>20031208212427
ACCESSION NUMBER:		0001209191-03-034034
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031205
FILED AS OF DATE:		20031208

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MONEY JAMES T
		CENTRAL INDEX KEY:			0001251140

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13031
		FILM NUMBER:		031043454

	MAIL ADDRESS:	
		STREET 1:		111 WEST WOOD PLACE
		STREET 2:		C/O AMERICAN RETIREMENT CORP
		CITY:			BRENTWOOD
		STATE:			TN
		ZIP:			37027

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN RETIREMENT CORP
		CENTRAL INDEX KEY:			0000787784
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-SKILLED NURSING CARE FACILITIES [8051]
		IRS NUMBER:				621674303
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		111 WESTWOOD PLACE
		STREET 2:		SUITE 202
		CITY:			BRENTWOOD
		STATE:			TN
		ZIP:			37027
		BUSINESS PHONE:		6152212250
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bna86132_jmm.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-12-05</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000787784</issuerCik><issuerName>AMERICAN RETIREMENT CORP</issuerName>        <issuerTradingSymbol>ACR</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001251140</rptOwnerCik><rptOwnerName>MONEY JAMES T</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>111 WESTWOOD PLACE, SUITE 200</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>BRENTWOOD</rptOwnerCity><rptOwnerState>TN</rptOwnerState><rptOwnerZipCode>37027</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Exec. Vice Pres. - Sales</officerTitle></reportingOwnerRelationship></repor
tingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>40000</value></transactionShares><transactionPricePerShare><value>3.05</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>115092</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1000</value></share
sOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By Son</value></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><ownerSignature><signatureName>/s/ James T. Money</signatureName><signatureDate>2003-12-08</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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