Konami have let slip
that they're going to be dropping a new Silent Hill game on us in 2011:
The new game begins after a prison transport vehicle careens off the road, leaving lone inmate Murphy Pendleton stranded in Silent Hill. As Pendleton takes in his new surroundings, users will encounter mind-bending puzzles and horrific creatures and otherworld terrors. Armed only with the everyday objects they can find - from wooden chairs to glass bottles - to fend off their enemies, fight or flight responses are left to the player as they unravel a dark, thought-provoking storyline which will appeal to fans of the early, classic Silent Hill series.
No other info or screenshots available just yet (other than it is still going to be a third person horror adventure title) but hopefully we'll see something soon!