The Hobbit reaches theaters today!

Like everyone else, I'm excited for the Hobbit to reach theaters today. However, I won't be seeing it for awhile. I love going to movies but its not something I can't live without and the expense usually keeps me from seeing movies. I waited long enough to see Brave that we (my mother and I) saw it at the dollar theatre. I suspect that won't happen with the Hobbit but we're certainly going to wait awhile so the crowds can die down a bit before we go. 

Apparently my mother heard on the radio that they're supposedly making three movies from the Hobbit. Has anyone heard anything like this/can back it up? I'd be really interested to know.