Transcribed by me from the sound file at www.honkingduck.com:

I'M S-A-V-E-D
(As sung by the Georgia Yellow Hammers.)

Some folks'll jump up and down all night at a D-A-N-C-E,
And go to church on Sunday morn to show their brand new H-A-T.
Upon their face, they'll smear large drops of P-A-I-N-T,
But yet they've got the nerve to say, "I'm S-A-V-E-D."

CHORUS:
"I'm S-A-V-E-D, I am, I'm S-A-V-E-D (I am)*.
I know I am, I'm sure I am, I'm S-A-V-E-D."

I know a man; I think his name is B-R-O-W-N.
He'll talk for pro'bition but vote for R-U-M.
He'll help to mix the poison in his neighbor's C-U-P,
But yet he's got the nerve to say, "I'm S-A-V-E-D." CHORUS.

When married folks have a lot of cash, their love is fervent strong (?)
But when they have to live on hash, the love don't last so long.
With a cross-eyed baby on his knee, and a wife with a plaster on her nose,
I tell you boys, it's no great fun when you have to wear second-hand clothes. CHORUS

[Yeah, I know, the last verse doesn't seem to fit, but that's how they sing it.

[*Although several voices sing the chorus, it seems there is only one voice singing the final "I am" on this line.]