Yes. Modernity is a sort of state of being- up to date, progressive, the Modernity of skyscrapers and automatic elevators in Gotham, for example. on the other hand Modernism is a belief system- and long attacked by religious conservatives it was condemned by the Popes in the Sylabbus of Errors, attacked by many clerics in the twenties- the very notion of ( bringing the Gospels up to date) was roundly condemned. one is a generalized term, fairly neutral- Modernity of skyscrapers, up to date computing systems, and Modernism is more of a religious slant applying progressive methodology to religious practices. It is kind of negative in tone.