The North Georgia Mountains usually get busy in the summer. This is when we see many of the buyers. This summer started slow but picked up some as the summer went on.
We are seeing prices in places like Big Canoe adjust downward as the sales volume starts to pick up. In other areas we are seeing a lot of first time buyers come out. The traffic of second home buyers is slow.
Land sales are really really slow as it is tough to get financing and new home starts are sluggish.
So the net for our mountain market I think is 2009 will be a year the downward home sale slide has stopped. But I think prices will not increase uniformly or across the board.
My recommendation is gated community homes are a great bargain right now. They are also great places to live. So if you are thinking about the mountains this is a good time to buy.