Development restrictions to protect water quality in the Ivy River Watershed near the Coweeta LTER have negatively impacted property values amongst residents, though the nearby city of Asheville, which benefits from better water quality because of the restrictions, has seen a rise in property values
Chamblee et al. 2009
The effect of minimum 2-acre lot restrictions on land prices in the watershed near the Coweeta LTER with development restrictions and on properties not in the watershed, but benefiting from enhanced water quality from development restrictions in the other watershed. Effects are shown before and after the protective ordinance was established.
For Further Reading:
Chamblee, John F., Carolyn A. Dehring, and Craig A. Depken. 2009. Watershed development restrictions and land prices: Empirical evidence from southern Appalachia. Regional Science and Urban Economics 39:287-296.
Dehring, Carolyn A. and Craig A. Depken, 2010. Sharing the Burden of Water Supply Protection. Regulation: 36-40.