The source range monitor (SRM) data recorded during the first 4 h of the Three Mile Island Unit 2 (TMI-2) accident following reactor shutdown were analyzed. An effort to simulate the actual SRM response was made by performing a series of neutron transport calculations. Primary emphasis was placed on simulating the changes in SRM response to various system events during the accident so as to obtain useful information about core conditions at the various stages. Based on the known end-state reactor conditions, the major system events, and the actual SRM readings, self-consistent estimates were made of core liquid level, void fraction in the coolant, and locations of core materials. This analysis expands the possible interpretation of the SRM data relative to core damage progression. The results appear to be consistent with other studies of the TMI-2 Accident Evaluation Program, and provide information useful for the development and determination of the TMI-2 accident scenario.