#!flask/bin/python
from flask import Flask
from flask.ext.sqlalchemy import SQLAlchemy

app = Flask(__name__)
app.config.from_object('config')
db = SQLAlchemy(app)

from app import views, models

#!flask/bin/python
from flask import Flask
from flask_sqlalchemy import SQLAlchemy

app = Flask(__name__)
app.config.from_object('config')
db = SQLAlchemy(app)

from app import views, models

Update to flask_sqlalchemy to use python 3 import
Update to flask_sqlalchemy to use python 3 import