Ph.D. with only 48 credits?

Despite the cost, I think I'm going to seriously look at Old Dominion when the time comes for me to apply to a PhD. 49 credit hours, good faculty, and they're an R2 university. I won't mind taking the GRE, submitting 3 academic letters of recommendation and writing a 3-6 page essay if it means I know I'm going to a high-quality university and learning the kinds of things I want to.