That's why the real estate bubble will pop. But if you live in a well-run city in a red state, like Dallas, TX, your house is more likely to hold on to its value.
And you are still in a city where the jobs are and where there are people who can afford the house you just bought.
Moving to the bucolic life of a small town or rural area is probably best considered a one way trip. Better like it there a whole lot and be able to make it there after you move because you are probably stuck for a long time unless you live like the locals.