9. Kim Basinger’s $20 million Town
Actress Kim Basinger purchased Braselton, Georgia for $20 million with the intention of turning it into a tourist attraction as well as the site of a film studio. The purchase was poorly thought out and the considerable distance from Braselton to Hollywood thwarted her development dreams. Five years later she sold it for just $1 million and filed for bankruptcy.
Today, the town of Braselton is backed by a new developer and is home to a population of over 2,000. It also has a racetrack, a winery, houses the American Junior Golf Association headquarters and is a major distributor for Sears.
