The real tragedy here is land-use restrictions that most municipalities instituted in the '70s and '80s, which prevent the supply of housing to meet demand (http://jakeseliger.com/2015/12/27/why-did-cities-freeze-in-t...).
Many "gentrifiers" in many Atlanta neighborhoods would probably prefer to live in NYC, LA, SF, or Seattle, but those municipalities have strict rules that prevent the building of sufficient housing to meet demand. So people move elsewhere. Matt Yglesias discusses this in more detail in The Rent is Too Damn High (http://www.amazon.com/TheRent-Too-Damn-High-Matters-ebook/dp...).