  We report iron and titanium abundance measurements from high resolution
spectra in a volume-limited sample of 106 M0 and M0.5 dwarf stars. The sample
includes stars north of the celestial equator and closer than 29 parsecs. The
results imply that there is an M dwarf problem similar to the previously known
G dwarf problem, in that the fraction of low-metallicity M dwarfs is not large
enough to fit simple closed-box models of Galactic chemical evolution. This
volume-limited sample avoids many of the statistical uncertainties present in a
previous study using a brightness-limited sample of M dwarf stars
