The ‘Great Reset’ Is Really What Happens When Chain Stores Pack Up and Move Out of Neighborhoods

In towns across America, Starbucks and Dunkin' remain steady fixtures—so ubiquitous, they can sometimes be found just steps apart.

In places like Ridgewood, NJ, where two Starbucks sit within a couple of blocks of each other, residents still line up at independent cafes serving pour-over coffee, fresh pastries, and community charm.

According to New Jersey-based real estate broker Steph Mahon, buyers aren’t just searching for homes anymore. They’re shopping for a lifestyle that often includes an authentic, well-curated downtown experience.

“It matters a lot,” Mahon, owner of Dwell New Jersey, tells Realtor.com®. “Especially for buyers moving from the city. They’re not only looking for more space—they want to maintain a sense of connection. A downtown that offers culture, convenience, and great small businesses is a top priority.”

Despite the pull of national brands—which won't fully abandon suburbia—many neighborhoods are seeing a renewed push to preserve the character and connection of their local downtowns.

This loyalty to "Main Street" isn't just nostalgic. It's a reflection of a post-pandemic mindset shift.

After COVID-19 disrupted life and the economy, the concept of "The Great Reset" emerged—coined by the World Economic Forum to describe how economies and societies could build back with a more community-focused approach.

In suburban towns and small cities, that reset often meant residents doubling down on their support for local businesses.

The result: vibrant commercial corridors filled with mom-and-pop shops, family-run restaurants, and independent retailers. In turn, the town has fueled a real estate market that increasingly values these walkable, tight-knit downtowns.

Living local

In Ridgewood and surrounding towns across Northern and Central New Jersey, that preference has become clear in buyer behavior.

Mahon routinely sees clients willing to sacrifice features like square footage or larger lots in order to live closer to a vibrant commercial center. In some cases, that demand even translates into higher property values.

“In Chatham, for example, homes in Chatham Borough—which tend to be smaller and on tighter lots—often sell for significantly more per square foot than homes in nearby Chatham Township,” Mahon explains.

“The Borough is closer to downtown shops and transit, and that’s something buyers are absolutely willing to pay for.”

What these buyers are often looking for is variety and authenticity. Chains may offer consistency, but they can’t replicate the character that local businesses bring.

In towns where Main Streets are filled with unique coffee shops, artisan bakeries, and boutique stores, that diversity becomes part of the appeal.

“There’s a strong ‘support local’ mindset in many of these communities,” Mahon says. “People are drawn to towns with personality. That energy comes from small businesses that are truly connected to the neighborhood.”

But the flip side is also true. A downtown with too many quick-service chains and not enough variety can quickly lose its appeal. Buyers frequently mention feeling turned off by commercial districts that lack independent dining options or specialty shops.

Most residents still appreciate having larger chains available—but not necessarily in the heart of their downtown. Instead, the expectation is that big-box stores or drive-thrus be situated on the outskirts, while the town center remains focused on small-scale, community-centered businesses.

Of course, thriving as a small retailer is no easy feat. High rents, limited foot traffic, and growing competition from online shopping present ongoing challenges.

However, Mahon believes that businesses succeed when they stay engaged and adaptable.

“The biggest mistake a small business can make is assuming people will come just because they opened their doors,” she says. “Retail doesn’t work that way anymore. Success comes from offering something memorable and giving people a reason to show up.”

As Chair of the Retail Advisory Board in Westfield, NJ, Mahon works directly with local business owners, offering free consulting and community insights. She’s found that those who make the most of that support tend to become the most successful.

“The owners who thrive are constantly looking for ways to improve their store, their service, their relationship with the community,” she says. “There is an opportunity here. Residents want to support local—they just need a reason to choose you.”

That symbiotic relationship between real estate and small business is becoming more evident to buyers who care as much about Saturday morning coffee and weekend farmers markets as they do about granite countertops or finished basements.

The walkability and culture of a town’s Main Street can be a deciding factor in a home search.

In today’s market, where lifestyle weighs just as heavily as location, towns that invest in their local economies may find themselves at a distinct advantage.