The former justice, Diane Hathaway, was ordered to pay $90,000 in fines, which she agreed to pay, WXYZ-TV, Detroit, reported.
The report said Hathaway tearfully addressed the court before her sentencing and begged for forgiveness.
"Your honor, I stand before you a broken person," adding that she had disgraced herself.
Defense lawyers had argued she would better serve the community outside of prison, the report said. She will not have to report to prison immediately.
Prosecutors agreed Hathaway is a good person, but said she should be sentenced on what she did, not on who she is.
Hathaway -- elected as a Democrat in 2008 -- stepped down Jan. 21, and pleaded guilty.
WXYZ said Hathaway hid more than $1 million in assets from the bank that later forgave more than $664,000 in mortgage debt on her Grosse Pointe Park home.