The North Georgia Market is facing a number of challenges. We were not effected by the housing bubble as much as other areas of the country. However the economic slow down has us feeling the pinch. State wide unemployment number hover around 8.5 percent. But the Atlanta area is higher around 9 percent and Dalton in North Georgia is over 10 percent. Dalton is the carpet capital of the U.S. and less houses being built means less carpet needed.
So for us in the mountains we saw a general decrease in prices in 2008 of approximately 10 percent. This is very good compared to other areas. The problem is the economic slow down may increase the number of folks in trouble and have a negative effect on prices. We are seeing first time buyers enter the market in good numbers.
Resort communities are suffering as folks with extra income are not spending it. The next 6 months I believe will tell the tale for how our market will fare. There are some wonderful deals and our mountains remain as always Beautiful.
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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog
On line at www.allmountainrealty.com Call at 706 579 1098
