Lived in Chattanooga for a total of 2.5 years. Still live in the area (half way between Chatt. and Knoxville). I liked it. Pretty descent night life. A little yuppyish. Low unemployment and you're literally minutes away from pocket wilderness (Prentiss Cooper) and not that much further from national parks. Real estate took very minor hits. Lots of industry moving to the area (Volkswagon, Amazon, some chemical plant and lots of new restaurants). The aquarium is awesome. Imax across the street. But lots of yuppies. Lots of them. The kind that drive Mercedes, BMW's, Land Rovers with dreads and consume mass quantities of PBR. Lots of outdoor concerts. Theres Riverbend every year and they pull some pretty good acts. Theres always something going on thats for sure.
City government is in a continuous battle with county government but thats pretty much any metropolitan area.
But the negative is the city suffers from a high crime/murder rate. Once the temperature hits 90 theres at least one if not more murders aday. On a per capita level the crime equals cities like Detroit and D.C. But you'll find out what part of town that is and will probably never have a reason to hit that side of town. Traffic on 24 going through the ridge cut is to be avoided at all cost between the hours of 2-6 pm M-F. People have not figured out that the accelerator must be pushed when going up the hill so you will literally go from 80mph to 25mph in a matter of seconds. No wrecks. Just retards.
Descent malls, nice restaurants and lots of locally owned stores that sell fine art, fresh breads, cakes, pastries and a Big River Brewery that claims to microbrew top beers that really suck. All in all its pretty great place to live.
The schools pretty much suck unless you live in one of the higher in burbs. City schools seem to be in a constant state of crisis. There are three private schools: GPS (girls prep), Baylor and McCallie. Pricey but manageable.
Out of curiosity what brings you to the area?