I lived in South Florida in 2008, where my house that had tripled in value in 4 years 2000-2004 all of sudden was worth less than what I had paid. I had my house on market while looking to move to TV. The Villages prices went down 10-15% only here, but also never had the big increase in value that the other parts of Florida had (South Florida and coastal Florida) prior to recession.
Hence what goes up fast, comes down just as fast.
I moved here in 2010 and purchased a property that had been built in 2000 and only paid about 10% over original price when built 10 years earlier. Then prices went up slowly since then.
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