95 Grand AM transmission problems

I have a 95 Grand AM 3.1 with a 4 speed automatic transmission. The tranny is slipping in 1st gear - when I hit the gas pedal it moves very slowly until it builds up enough momentum to shift into 2nd. Is my transmission shot or could it possibly be an electronic problem?

Does the engine rev up when you hit the gas? If so, your torque converter may be going out.

Yes it does rev up.
I'm assuming that this is going to be an expensive fix. I refuse to pay more for repairs than the car is worth.

The 92-95's well known for blowing their trannies, the internal band shell fries. $$$$$, around 1K easy. The first is the slip at 1st, then the reverse goes, and then it won't shift at all. One quick possible try, not too expensive, is have a shop drop the pan, replace the filter, refill and see if that brings it back. If not, new tranny drop, sorry.

What are the chances that replacing the tranny fluid and filter will at least partially fix the problem? This and other threads have mentioned it but I am not going to bother unless there is a chance that it will work.
I took the car to a transmission shop, he said it needed a new tranny(all he did was pull the dipstick and look at the fluid).

Hey , i have a 93 grand am 3.3L , i had the same problem you are having. In your tranny you have shift sensors (electronic) that work with your TCC (transaxle converter clutch) There is a very easy check for this to find out if this is the problem. On your tranny there is a TCC electrical connecter you cant miss it, look in the engine compartment and look at the tranny you will see an electrical connecter that plugs into a sensor type thing that is attached to your tranny just unplug this its very easy, then take your car out for a drive .....if the problem stops than you have a shift sensor gone there is one for every gear. You will notice that your CHECK ENGINE light will come on all the time but thats because the computer is detecting the sensor unplugged, you will also use more gas because it also has something to do with your emissions when it is operating properly it increases your fuel economy.. Like i said this happened to me and i unplugged it and my car ran fine..it cost me $400.00 to repair it but my buddy is a mechanic i also live in canada not sure where you live. If you unplug it and it works it is ok to drive your car with it unplugged i drove my car for about 2 months like that and i was fine , the mechanic told me i would just use more gas and i did.
Let me know if this helps and how you make out.