The suspect, Sergeant First Class Amos Patton, was a recruiter and his victims were his superiors. The 20-year National Guard veteran remains in custody Friday morning.
Both victims are being treated for non-life threatening wounds at a Memphis hospital, said Millington Police Chief Rita Stanback. Major Jeff Crawford was struck in the thigh, and a sergeant was hit in the foot. A third guardsman was grazed in the arm.
Stanback said the shooter did not have his handgun in his possession by the time police arrived at the scene.
"I'm sure there could have been more injury if they hadn't taken him into custody," she said.
Crawford and the sergeant were in town to talk to Patton about polices and procedures. A source said Patton left in the middle of the meeting and went to his car, returning with a computer bag and waist pack.
Patton pulled a .380 semi-automatic pistol from the waist pack and shot at the officers, emptying his gun before he was "taken down" by fellow guardsman.
Major General Max Haston of the Tennessee National Guard, lamented Thursday's events.
"It concerns me today what's happened all over the world, Washington D.C., that Washington Naval Yard, you never think something like this will happen on your watch, in good ol' Tennessee here," Haston said. "But it did happen."
The Millington Navy base, as well as Millington Elementary and a nearby golf course were all briefly shut down in the aftermath of the shooting, but were reopened laster in the afternoon.
Exploding whale video goes viral on Internet
Martin Bashir resigns from MSNBC over Sarah Palin comments