What happened during the real estate crash in Atlanta?

[Tareq Salaita]

I need advise from my fellow investors who specifically were in the Atlanta market during the 2008-2011 crash... What happened to real estate prices in the perimeter in desirable areas? What percentage did they decrease in value? Did the rents stay the same?

Here's the reason for my question... I have a multifamily unit in Cabbagetown that has appreciated by 70 percent since I purchased it in 2015. It is a cash flowing property generating roughly a 10 percent CAP rate. My partner wants to sell due to concerns with a slowdown in Real Estate in Atlanta (high appreciation over the last 5 years, higher mortgage rates, flood of investors in market, etc..). I would like to assume the worst.. that the market will crash. If it does, would the values go down 10, 20, 30 or 40 percent? Any guesses out there? I know this is a difficult question to answer but looking for advise from people who have lived the crash...

Thanks,

Tareq