MEMPHIS, Tenn. — Memphis wanted to prove it really was the best team in the country, maybe even make a run at perfection.

Turns out, the Tigers aren't even best in their own state.

Tyler Smith hit a turnaround jumper in the lane with 28 seconds left and No. 2 Tennessee knocked off the nation's last unbeaten team, edging top-ranked Memphis, 66-62, last night.

The Volunteers (25-2) won the I-40 showdown and are likely headed to No. 1 for the first time in school history.

"You guys all said we needed to lose one, so we lost one," Memphis coach John Calipari told the media, trying to shrug off the end of the nation's longest home winning streak at 47 games. "Great game. I have to give them credit. They scrapped, they battled."

Tennessee won on a night when star guard Chris Lofton scored only 7 points, beating up the Tigers by dominating the boards. Lofton did finish it off, though, hitting a couple of free throws with 4.5 seconds to go after Memphis (26-1) intentionally missed at the line.

Now the spotlight shifts to the Vols, who've never made it to a regional final, much less the Final Four.

"No. 1's great," Lofton said. "But we want to be No. 1 at the end of the year."

Despite their perfect record, the Tigers had plenty of skeptics who felt their lofty record was more the result of beating up a bunch of patsies in an unheralded league, Conference USA. They wanted to show they really were worthy of making a run at Indiana, the last team to win a championship with a perfect record, way back in 1976.

The Hoosiers can rest easy. Tennessee's players walked off the court, holding up the name across the front of their orange jerseys to taunt the stunned crowd. The small group of Vols fans who actually got in the building hung around to chant "We're No. 1! We're No. 1!"

Just as Vols coach Bruce Pearl predicted at a pep rally before the game.

"I wanted to make sure our guys knew we were playing for something," Pearl said. "I don't know if we're the best team in the country. I knew we were 40 minutes away from being No. 1."

Smith scored 16 points to lead the Vols, while Wayne Chism and J.P. Prince added 13 apiece. But Tennessee overpowered the Tigers with a season-high 50 rebounds. Memphis had 34.

The Tigers were up when Smith took a pass from Lofton, backed in and hit the jumper for a 62-61 lead. Antonio Anderson missed badly for Memphis at the other end, and the Tigers were forced to foul.

"I really don't even remember," Smith said. "I just remember the shot going in."