because of the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more. Film and television production facilities based in Atlanta include Turner Studios, Pinewood Atlanta Studios, Tyler Perry Studios, Williams Street Productions, and the EUE/Screen Gems soundstages. Film and television production injected $9.5 billion into Georgia's economy in 2017, with Atlanta garnering most of the projects. Atlanta has emerged as the all-time most popular destination for film production in the United States and one of the 10 most popular destinations globally. Compared to other American cities, Atlanta's economy in the past had been disproportionately affected by the 2008 financial crisis and the subsequent recession, with the city's economy being ranked 68th among 100 American cities in a September 2014 report due to an elevated unemployment rate, declining real income levels, and a depressed housing market. From 2010 to 2011, Atlanta saw a 0.9% contraction in employment and plateauing income growth at 0.4%. Although unemployment had decreased to 7% by late 2014, this was still higher than the national unemployment rate of 5.8% Atlanta's housing market has also struggled, with home prices dropping by 2.1% in January 2012, reaching levels not seen since 1996. Compared with a year earlier, the average home price in Atlanta plummeted to 17.3% in February 2012, thus becoming the largest annual drop in the history of the index for any American or global city. The decline in home prices prompted some economists to deem Atlanta the worst housing market in the nation at the height of the depression. Nevertheless, the city's real estate market has resurged since 2012, so much median home value and rent growth significantly outpaced the national average by 2018, thanks to a rapidly-growing regional economy. Arts and culture Atlanta is noted for its lack of Southern culture. This is due to a large population of migrants from other parts of the U.S., in addition to many recent immigrants to the U.S. who have made the metropolitan area their home, establishing Atlanta as the cultural and economic hub of an increasingly multi-cultural metropolitan area. This unique cultural combination reveals itself in the arts district of Midtown, the quirky neighborhoods on the city's eastside, and the multi-ethnic enclaves found along Buford Highway. Arts and theater Atlanta is one of few United States cities with