Are you completely powering down the Nook, or simply putting it to sleep?
If you are totally powering off the device, then this behavior is normal. Powering down is done when you press the power button and hold it for 5 seconds. If you are putting it to sleep, which is where you are just tapping the power button, then you should return to where you were last.
Now, you could have an issue with a sticking power button inadvertently powering the device down. The easiest way to check this is to see how quickly it starts back up. If you tap the power button to bring it back up, it should be instantaneous. If you see a screen saying something like "Your device is loading..." along side a big Nook logo, then it previously was fully shut down.
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