YES!! , two first order systems in series never yields an underdamped system.
The original transfer function is given below.
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Roots of the characteristic polynomial are the exponents in the time-domain solution. These values determine the stability of the output for a bounded input.

Note that the term inside the square root can be rearranged to be prove that the term is positive as shown below.
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Substituting yields the following expression

Thus, the roots are a = -1/t 1 and a = -1/t 2.
These roots are real and negative; the system is stable and either overdamped (when t1 and t2 are not equal) or critically damped (when t1 and t2 are equal).