SEVIER COUNTY, Tenn. (WVLT) -- When it comes to housing, the economy makes it a buyer's market.

Buyers came from East Tennessee and beyond Saturday with the hopes of finding a great bargain on one of more than 50 cabins in Sevier County.

It was an auction call more than 200 anxious buyers couldn't let pass up.

"We saw this in the paper and decided to come up," says Carolyn Goff of Chattanooga. "There seem to be some great buys here."

After years of dreaming of a mountain cabin, Goff and her husband bought a two-bedroom, two-bathroom getaway with a winning bid.

"It's a little scary when you start taking all the bids. But it's been fun. We've enjoyed it."

In all 53 furnished cabins and 84 lots were sent to the block.

They're all part of the Eagle Springs Resort.

The developer had to dump the properties to keep from falling into foreclosure.

"I guess you take advantage of a lot of other people's misfortune, and today was a good deal," said real estate developer Ken Daniels.

"There is always a difference at the auction because you know got the opportunity to take advantage of a good deal. So you get to see what everybody's paying for it," he said.

Good deals were all around. Cabins that once sold for around $200 thousand fell to half that price.

Some sold for as low as $70K, less than they cost to build.

"It's allowed several people to bid here today that maybe wouldn't have been able to bid otherwise," said Clayton Bank and Trust's Jim Clayton.

Representatives were on hand to help with financing.

"I feel very optimistic about the economy, and I think the fact that we see people buying here today with enthusiasm tells us that there are positive signs."

"It means that we were able to pick up a cabin that we really love at a great price. And we're just real happy with the one we got," says Goff.

The sellers are happy too, saved from foreclosure.