Had the same thing happen on my SE Sport recently.
The Temp Sender is a SINGLE WIRE sensor, just below the Thermostat.
If the wire is off the sender, or if the sender is cracked, it will bury the needle in the RED ZONE.
My sender was cracked.
If the wire or sender is SHORTED, it burys the needle in the BLUE.
Either way, you need a new Sender.
My new sender actually gives me a hotter than normal reading,
so I've got to figure out if the gauge is adjustable or do I just try another sender.