Showing Validation Errors using MVC

I have been trying to display validation errors using MVC's inherent validation framework. I am using following code for my Controller:

[HttpPost]
        public ActionResult SaveApplication(ApplicationModel application)
        {
            if (!ModelState.IsValid)
            {                   
                return View("New",application);
            }

            ApplicationBLL.SaveApplication(application);
            return Content(string.Empty);
        }

While my view looks like:

<tr>
        <td>Name</td>
        @Html.ValidationSummary(true)
        <td>@Html.TextBoxFor(m => m.Name)</td>
        <td>@Html.ValidationMessageFor(m => m.Name, "Name is required")</td>
    </tr>

following is how the model class looks like:

public class  ApplicationModel
    {
        public int ApplicationId { get; set; }

        public string ApplicationNumber { get; set; }

        [Required]
        public string Name { get; set; }

        public DateTime EventDate { get; set; }

        public string EventAddress { get; set; }
}

My Model has [Required] validation on the name property and when I put debugger on my controller, it recognizes that the ModelState is not valid and returns back to the view but I do not see any errors on my page. I may be missing something very trivial since this is my first time using MVC's validation framework.

One thing I would like to add is that I am calling Controller with an Ajax Post Can that be contributing to this anomaly?