The victim was identified by TBI as David Hoal, 59.
A TBI spokesperson said Collierville Police responded at 8:10 a.m. to the 900 block of Valleywood Cove for a call of a possibly suicidal man. Officers found the man in the backyard and repeatedly ordered him to drop his weapon.
For reasons still under investigation, the spokeswoman said, one of the officers opened fire.
District Attorney General Amy Weirich's office requested a TBI investigation.
Collierville police told WREG the officer involved has been suspended pending the outcome of the investigation. The Collerville Police Department does not have body cameras, but do utilize in-car cameras.
They also confirmed that officers were called to the same home on Sunday. A police report shows Hoal's wife told officers her husband was depressed over an upcoming move to Florida. Hoal told officers that he was stressed, but officers said in that report that he seemed to be in control. That report has also been turned over to the TBI as part of the investigation.
Neighbors expressed their sympathy, saying Hoal seemed like a nice guy.
"Sad situation," a neighbor said. "We will be praying for them for sure."
Hoal’s son said the family is still processing what happened and at this point, he would only say his dad was an excellent father and he will be truly missed.