But is it affecting us and if so, how?
The first and most visible signs locally were the major slow downs of residential construction.
Some say all construction has slowed.
Then the talk of increased interest homeowners were going to be faced with would cause many foreclosures.
Home sales took a nose dive, so did their values.
The price of oil went through the roof causing gas prices to jump out of site.
Truck and SUV sales came to a halt.
Then trouble started on Wall Street.
Freddie Mac and Fannie Mae hit the skids.
AIG faces bankruptcy.
The President and Senate are at odds regarding the bailout. Many have concerns about writing a blank check.
The Presidential Debate hit a snag.
The majority of car tags on the streets in Gatlinburg, Pigeon Forge and Sevierville are from Tennessee rather. Very few tourists.
The businesses in Gatlinburg, Pigeon Forge and Sevierville are now reaching out to the local markets as the gas crunch has hit home.
They figure that locals would be more willing to take a mini vacation locally rather than spending the big bucks.
Marriage licenses are down.
General income for the cities and Sevier County are also down.
What’s up is the cost of most everything we buy.
Except for vehicles and homes, for which you are going to need stellar credit.
Remember, “Cash is King”.
For the savvy investors, the time to take advantage of the bargains might be just around the corner.