W(h)ither Spring Hill?

The regional job market receives a blow to the mid-section from General Motors today. Let's cut through the initial best-face spin: if 1,500 of the 5,700 jobs at the Spring Hill plant are going to end, how many of the 5,700 are going to relocate from Spring Hill with the Saturn Ion move? With rising gas prices and lower consumer demand for SUVs, can the remaining Saturn Vue workers have any sense of job security or will they be waiting for other shoes to drop in future quarters? Most importantly, what will be the impact of the declining tax resource base in the wake of GM pull-out on the recent decision by town administrators to cut property taxes to zero?

Stay tuned to this story; it looks huge to me.