I came across this article on the Matrix Blog
It reinforces our belief that all real estate is local.
The post is about the The RPX Monthly Housing Report by Radar Logic shows values and market characteristics by MSAs rather than taking the broad brush gloom position of a majority of contributors on the subject. While Memphis is not included in the MSAs tracked, this is an interesting report. its nice to see that some MSAs, like Milwaukee, Charlotte, and Seattle are hanging in there. See the Memphis Area Association of REALTORS Hop of the Fence site for Memphis Area specific info.