In a recently released report from Georgia State University's Economic Forecasting Center, it's predicted that  Athens, Georgia will avoid a full recession this year and grow at twice the rate of the rest of the state of Georgia. 

It's predicted that Athens will add 1.6% more jobs versus the rest of the state's predicted 0.8%.  The growth can be attributed in a large part to the stability that the University of Georgia brings to the Athens metro area.

Real Estate and Housing has remained mostly stable with some appreciation in the Athens, Georgia area as documented by Success Realty in our most recent Athens Georgia real estate market statistics.

As for the rest of the state:  At the Georgia Economic Outlook luncheon held in Atlanta in December 2007, Dean Robert T. Sumichrast of the University of Georgia's Terry College of Business stated "Our economy is still growing, but what appeared to be a soft landing for Georgia's economy has morphed into a protracted landing -- characterized by considerable turbulence."  

Ken Heaghney, Georgia's official state economist told state leaders at a meeting of the House and Senate Appropriations committees in January that "We're expecting ... Georgia could do no worse than the U.S. as a whole, and probably better".  He went on to assure state leaders any recession should be mild, and the economy could turn around as soon as the middle of the year.

It's been an interesting few weeks in the mortgage market with rates fluctuating and the scary, but thankfully temporary, disappearance of 100% financing in Georgia due to being rated a "declining market" for the entire state by several risk management (PMI) companies.  However, spring market is just around the corner and happily, buyers are leaving their winter hibernation behind and starting to search for homes in Athens, Georgia!