How deep did you plant it? What kind of temperatures have you been having? Have you been watering the leaves?

I planted it a couple of inches below the soil level that it was in the container. Mostly mid to high 90's. We've had plenty of rain, but when I water it, I water ground level.

You did not plant it deep enough. Six to eight inches of the stem should be below the ground. If you planted it recently it has not had time enough to send out roots into the surrounding area to allow it to absorb needed moisture. You will have to wait until weather cools off to dig it up and plant it at the correct depth of a tree peony. Continue watering once a week unless you have rain. Several other things might have happened but that is the most common as the graft connection may have failed. If it has you may have a nice herbaceous plant to replant when you dig it up. If the graft has not failed replant deeper and hope it survives.

I appreciate your advice and hope all is well with it. Will replant in the fall.

If you are in Zone 7 (I also live in Zone 7), by the beginning of August, tree peonies will begin to show signs of going dormant. The leaves will begin to turn brown and fall off of the plant. This is not a sign of a problem, but the natural cycle of the plant. The heat this year has been brutal. The tree peonies budded out and bloomed early, so they will go dormant early. I would wait one more spring to see how it does before replanting. Each time you disrupt the plant you are setting it back. If it needs more soil, build it up around the plant. Fertilize when you see new growth in the spring, right after blooming, and in the fall when the plant goes dormant. Use a low nitrogen fertilizer like Fish Fertilizer or Neptune's Harvest (not Miracle Grow). Remember, it takes great patience to grow tree peonies. Hope this helps.