The analysis of vegetation dynamics and agricultural production is essential in semi-arid regions, in particular as a consequence of the frequent occurrence of periods of drought. In this paper, a multi-temporal series of the Normalized Difference of Vegetation Index (NDVI), derived from SPOT-VEGETATION (between September 1998 and August 2013) and TERRA-MODIS satellite data (between September 2000 and August 2013), was used to analyze the vegetation dynamics over the central region of Tunisia in North Africa, which is characterized by a semi-arid climate. Products derived from these two satellite sensors are generally found to be coherent. Our analysis of land use and NDVI anomalies, based on the Vegetation Anomaly Index (VAI), reveals a strong level of agreement between estimations made with the two satellites, but also some discrepancies related to the spatial resolution of these two products. The vegetation’s behavior is also analyzed during years affected by drought through the use of the Windowed Fourier Transform (WFT). Discussions of the dynamics of annual agricultural areas show that there is a combined effect between climate and farmers’ behavior, leading to an increase in the prevalence of bare soils during dry years.