I had a little debate with a friend a few weeks ago, who was horrified by all the car dealerships closing down. I wasn't as worried -- essentially making the point that while it was unfortunate for people who would lose jobs, new jobs and opportunity would soon emerge from the ashes. It looks like developers are already interested.
The only thing particularly troubling is that these car dealerships offered a lot of great, working class jobs. There aren't whole tons of those to go around anymore. However, we may be seeing a shift in the entire auto industry -- who knows if people will ever buy new like we did in the 90s and early 2000s anymore. If that's the case, perhaps the jobs will just shift from dealerships to more local auto shops.
Yet, in any case, there is resiliency in the economy: land will always hold value and all these soon-to-be vacant dealerships will certainly offer a lot of future opportunity, as well as jobs.