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I've read that it could have been one of the 1st 3 movies to be released on VHS in 1977. Can anyone verify this?!

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From What was the first movie commercially released on VHS?:

According to Frederick Wasser’s Veni, Vidi, Video, the American home video market was essentially born in 1977, courtesy of an audio/video firm called Magnetic Video. At the time, Twentieth Century Fox was a company struggling through dire financial straits (despite the ridiculously successful May 25th release of a flick called Star Wars) and looking to generate some sort of revenue beyond box office ticket sales. Magnetic’s founder Andre Blay took advantage of these circumstances, paying Fox for the home video licensing rights to fifty of the studio’s films. And with that, a now extremely prominent entertainment market roared to life.

The first three American flicks released on VHS? The Sound of Music, Patton, and M*A*S*H (at an average retail cost of $50-$70, each).

Other links also corroborate this. It appears your assertion is correct.

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