My guess would be Scolia dubia or otherwise known as a Digger Wasp. They dig into the ground and lay their eggs on a beetle larvae so they don't make nests. It also says that the females sting.

Could it be a Soldier Fly ? Any compost nearby ?
Norm

Nope. Not a Soldier Fly.

They might be some form of digger wasp, but none of the photos I googled looked quite like them. I'll post a couple more views this evening.

How big is it? How many yellow bands on the backside?

Abount an inch long. Here is another view. It's not really a yellow band but two bi-lateral yellow spots. Fuzzy little critters, too.

Looks kind of sawflyish to me.

I just emailed someone with the Ag. Extension office and asked. Maybe we'll have a positive ID soon.

mmw181 got it right! I didn't google the Latin name or I would have known that sooner. The Ag. Ext. guy emailed me back pretty quick. Here's what he had to say:

These wasps do not have a common name, but they sometimes are referred to as blue-winged wasps. Their scientific name is Scolia dubia. The adults feed on nectar and pollen from various flowers.

They are considered beneficial wasps because the females lay their eggs on soil-infesting white grubs such as May and June beetles and green June beetles. They do not sting people unless greatly aggravated or captured in the hands.

They are commonly observed flying just inches above lawns or pastures that are infested with different species of white grubs. Female wasps work they way through the soil in search of grubs, burrowing their own tunnels or following those made by grubs. On locating a grub, she stings and paralyzes it. She may burrow 1.2 cm deeper to construct a cell around the host. Then she lays an egg on the outside of the grub. The parasitized larva provides a fresh food supply for the wasp larva. The stung grubs never recover. Many grubs are stung, but only a few eggs are laid.

These wasps, therefore, are very important natural agents in the control of grubs in the soil. These wasps are native to Tennessee and are found from New England to Florida.

Good call! Attached is a picture illustrating why it would be called the 'blue winged wasp'.

Here is a link that might be useful: