diff --git a/activerecord/lib/active_record/associations.rb b/activerecord/lib/active_record/associations.rb
index f2feac0..c859fb7 100644
--- a/activerecord/lib/active_record/associations.rb
+++ b/activerecord/lib/active_record/associations.rb
@@ -1449,11 +1449,11 @@ module ActiveRecord
             if association.nil? || force_reload
               association = association_proxy_class.new(self, reflection)
               retval = force_reload ? reflection.klass.uncached { association.reload } : association.reload
-              if retval.nil? and association_proxy_class == BelongsToAssociation
-                association_instance_set(reflection.name, nil)
-                return nil
-              end
               association_instance_set(reflection.name, association)
+            elsif reflection.belongs_to? && self.class.column_names.include?(reflection.primary_key_name)
+              key_changed = send("#{reflection.primary_key_name}_changed?")
+              key = read_attribute(reflection.primary_key_name)
+              association.reload if key_changed && (key.nil? ^ association.target.nil?)
             end
 
             association.target.nil? ? nil : association
diff --git a/activerecord/test/cases/associations/has_one_through_associations_test.rb b/activerecord/test/cases/associations/has_one_through_associations_test.rb
index 5d15314..d095891 100644
--- a/activerecord/test/cases/associations/has_one_through_associations_test.rb
+++ b/activerecord/test/cases/associations/has_one_through_associations_test.rb
@@ -42,6 +42,18 @@ class HasOneThroughAssociationsTest < ActiveRecord::TestCase
     assert_equal clubs(:moustache_club), new_member.club
   end
 
+  def test_creating_association_builds_through_record_for_new_through_belongs_to
+    new_minivan = Minivan.new
+    assert_nothing_raised do
+      new_minivan.dashboard = dashboards( :cool_first )
+    end
+    assert new_minivan.speedometer
+    assert_equal dashboards( :cool_first ), new_minivan.speedometer.dashboard
+    assert_equal dashboards( :cool_first ), new_minivan.dashboard
+    assert new_minivan.save
+    assert_equal dashboards( :cool_first ), new_minivan.dashboard
+  end
+
   def test_replace_target_record
     new_club = Club.create(:name => "Marx Bros")
     @member.club = new_club