In 1979, the first ski runs on Mount Washington Alpine Resort were built, bringing in new tourists. However, in 1982, the local economy suffered when 409 Squadron was transferred to CFB Cold Lake in Alberta, resulting in sizeable transfer of personnel and their families, and a resultant loss of service industry jobs. This, coupled with the recession of the 1980s, resulted in a decrease in land values as families moved out of the town. The number of homes sold annually dropped from 420 to 150.