Water shortage. Will it impact Cumming Georgia Real Estate.
This is not the first time that Lake Lanier has seen a drop in water but it is one of the worst. The question keeps coming up..what is the impact on property value? I can say having sold lake property for 14 years that yes it will have a short term impact. Without the crystal ball (lost mine) it is really impossible to say how much and for how long. There are many who believe that unless the state of Georgia is given some say over its water, Lake Lanier could be deemed a risky investment. The demands downstream seem to out weigh the needs of the people here who depend on this lake for water,income producing businesses, and recreation. Much is at stake and this problem must be ironed out with a more binding solution so that the future looks brighter for all concerned.
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