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As an illustrative example, a property in Spring Hill, Tennessee, exemplifies the distress in the current housing market. Originally listed at $400,000, this home is now priced at $325,000 after Open Door, a major Wall Street home buyer, incurred significant losses on the property. Open Door's losses across numerous properties are influencing market values, effectively dragging down home prices within affected communities. This downward trajectory has spread from previously troubled markets in states like Florida and Texas, reaching into other regions, including parts of California.