Three Mile Island and Residential Property Values: Empirical Analysis and Policy Implications

Abstract

A statistical study of the effects of the Three Mile Island (TMI) accident on residential property values uses a hedonic price model of sale prices on homes in two communities located within four miles of the plant. The results indicate no absolute decline in prices or any indication that the appreciation rate for housing sales was slowed. Extension of the analysis to include all multi-listing sales within five miles of the plant shows no statistically significant difference with the control area. 21 references, 5 tables. (DCK)