My market is a bit weird right now... here's how.
The main private course here is Point of Woods (I am not a member). They have been the host location for the Western Amatuer event for the past 15-20 years, where pros like Tiger, Phil, Justin, Scott Verplank, and more have participated. Lat year they made the decision that the members didn't want the tournament back, and were willing to give up the income they derive from the event, rather keeping one extra week of playing time for themselves. Subsequent to this decision, over 60 members have left, which makes the financial decision look weak.
Second deal is this. We have been under development here on a Jack Nicklaus Signature Course called Golf Club at Harbor Shores. It is part of a massive development project here in SW Michigan, with hotels, marina, golf course, and 100's of homes. OK, so after yoy read that you'll obviously say, WHAT?... The ecnomy hasn't killed all this. The answer is, so far, the course has continued to go forward, with the first 9 holes opening in July. The balance of 9 holes are opening next June sometime. Current quote for 18 holes next year; $200-$225. The furor here is that those fees will not allow enough play to sustain the course, so why is the area pumping so much cash into it? Has created a bit of local angst, including environmentalists crowing about some dune and wetlands that were "adjusted" to accommodate holes along Lake Michigan.
Stay tuned I say, because it will be interesting economically.