There have been some recent articles about declining Metro Atlanta home values. But, one must remember, Metro Atlanta is a very large territory. Below is a chart I did comparing residential home values for Metro Atlanta and the two main zip codes for Buckhead: 30305 and 30327. As you can see, Metro Atlanta has continued to slightly decrease, but Buckhead appears to be trending up from its low point in January 2010. Some of the areas in Metro Atlanta have been hit exceptionally hard by foreclosures and too much inventory, but while it hasn't been immune to the downturn, the Buckhead real estate market has shown remarkable resilience. I think one of Buckhead's main real estate benefits is the lack of supply available for new construction - it's limited.
The Atlanta home value indicator I used was from Zillow. The "Zestimate" is not necessarily accurate on an individual basis, but is great when looking at regional market trends. It has a "smoothing" effect on the data, which in my opinion, makes it easier to spot trends on the charts.
In July, I did a chart on the drop in Buckhead home inventory, which dovetails nicely with what seems to be an increase in Buckhead home values.