diff --git a/netbox/utilities/mixins.py b/netbox/utilities/mixins.py
index da6de06fb..b56055a5e 100644
--- a/netbox/utilities/mixins.py
+++ b/netbox/utilities/mixins.py
@@ -11,6 +11,10 @@ class Tracker:
 
 class TrackingModelMixin:
 
+    def __init__(self, *args, **kwargs):
+        super().__init__(*args, **kwargs)
+        self._initialized = True
+
     @property
     def tracker(self):
         if not hasattr(self._state, "_tracker"):
@@ -28,17 +32,18 @@ class TrackingModelMixin:
                 self.tracker.changed = {}
 
     def __setattr__(self, name, value):
-        change_tracking_fields = registry['counter_fields'][self.__class__]
-        if name in change_tracking_fields:
-            if name not in self.tracker.changed:
-                if name in self.__dict__:
-                    old_value = getattr(self, name)
-                    if value != old_value:
-                        self.tracker.changed[name] = old_value
+        if hasattr(self, "_initialized"):
+            change_tracking_fields = registry['counter_fields'][self.__class__]
+            if name in change_tracking_fields:
+                if name not in self.tracker.changed:
+                    if name in self.__dict__:
+                        old_value = getattr(self, name)
+                        if value != old_value:
+                            self.tracker.changed[name] = old_value
+                    else:
+                        self.tracker.changed[name] = DeferredAttribute
                 else:
-                    self.tracker.changed[name] = DeferredAttribute
-            else:
-                if value == self.tracker.changed[name]:
-                    self.tracker.changed.pop(name)
+                    if value == self.tracker.changed[name]:
+                        self.tracker.changed.pop(name)
 
         super().__setattr__(name, value)