1995 - Before the closure and demolition of GM's North Tarrytown Assembly
2020 - North Tarrytown Assembly Demolished, environmental remediation underway, to be re-developed
The North Tarrytown Assembly plant, located in what is now Sleepy Hollow, New York, was one of General Motors' most historic and longest-running facilities,operating for nearly a century from 1900 to 1996.
Early History & Maxwell-Briscoe (1900–1914)
The Walker Steamer: The facility opened in 1900 on the shores of the Hudson River to produce the "Mobile" steam carriage for the Mobile Company of America.
Transition to Gas: By 1903, steam power had lost its appeal, and the plant was leased to Maxwell-Briscoe. For a time, it was one of the largest and most advanced automobile factories in the world, designed by the famous architectural firm McKim, Mead & White.
The Chevrolet and GM Era (1914–1996)
Chevrolet Acquisition: Following Maxwell-Briscoe’s bankruptcy, the Chevrolet Motor Company acquired portions of the site in 1914 and 1915.
General Motors Merger: When Chevrolet merged with General Motors in 1918, the plant became the GM Assembly Division, Tarrytown. It would eventually become the largest GM assembly plant east of the Mississippi.
World War II: During the war, production shifted to military aircraft. As part of the Eastern Aircraft Division, the plant built wing assemblies and other components for the Grumman TBF Avenger torpedo bomber, employing roughly 10,000 workers, including 2,900 women.
Post-War Prosperity: In 1963, the plant celebrated a major milestone by producing the 50 millionth Chevrolet, a gold-colored Impala SS. At its peak, the plant provided nearly 50% of the village's tax revenue.
Closure and Redevelopment
Plant Shut Down: The facility closed in June 1996. Its age was a primary factor; the multistory, land-constrained site could not be efficiently modernized for new production methods. The final vehicles produced were the "APV" minivans: the Chevrolet Lumina APV, Pontiac Trans Sport, and Oldsmobile Silhouette.
Demolition: The massive complex was demolished in 1999.
Edge-on-Hudson: Today, the 96-acre site is being transformed into a mixed-use development called Edge-on-Hudson, featuring residential units, retail space, and a waterfront park.
Investing $500 per month from August 2000 through April 2013 involves 153 monthly contributions, totaling a principal investment of $76,500. Depending on the chosen investment vehicle, the final amount varies significantly. Notably, this period includes two major market crashes: the Dot-com bubble (2000-2002) and the Global Financial Crisis (2008).
Investment Scenarios
S&P 500 (Dividends Reinvested): Your balance would have grown to approximately $112,000. Despite starting at the peak of the dot-com bubble and enduring the 2008 crash, consistent monthly contributions (Dollar Cost Averaging) allowed you to buy more shares when prices were low, leading to a total return of roughly 46% over the principal.
High-Yield Savings/CDs: Based on historical interest rates which averaged around 1.5% – 2.5% for much of the 2000s before dropping below 1% after 2009, your balance would have reached approximately $88,000 – $92,000.
Cash (No Interest): Simply saving the money without any growth would result in exactly your principal: $76,500.
Key Data & Context
Market Volatility: The S&P 500 began this period around 1,460 (August 2000) and ended near 1,590 (April 2013). While the price index only grew marginally, reinvesting dividends was critical for growth.
Inflation Impact: $1,000 in 2000 had the same purchasing power as approximately $1,352 in 2013 due to a cumulative inflation rate of 35.3%. This means your $76,500 in total contributions was worth significantly more in terms of “buying power” when you started than when you finished.
The “Lost Decade”: This specific timeframe is often cited as a difficult period for investors because the market effectively went “nowhere” for 13 years if dividends were ignored; however, monthly investing turned this stagnation into a gain.
Compared to another tougher time period
The 1970s were tougher times though due to inflation. Politicians of both parties play too carelessly with inflation, it’s by far the single most destructive thing a politician can do to a country.
Investing $50 a month from January 1968 to December 1982 (a 15-year period) into an S&P 500 index fund with dividends reinvested would have resulted in a total contribution of $9,000, growing to an estimated end balance of roughly $15,000 to $17,000 by the end of 1982.
During this 15-year window, the U.S. experienced “Great Inflation,” with the Consumer Price Index (CPI) rising by approximately 177%. Because your end balance (~$16,000) was less than the inflation-adjusted value of your contributions (~$25,000), your investment actually had a negative real return. In 1982 dollars, you effectively had less “buying power” than the total money you had tucked away over those 15 years.
Investing $50 a month in a standard passbook savings account from 1968 to 1982 would have been significantly worse than the stock market, primarily due to government-imposed interest rate caps known as Regulation Q. Under Regulation Q, banks were legally prohibited from paying more than about 5% to 5.5% on savings accounts for most of this period. Even when inflation hit 13.5% in 1980, your bank was often stuck paying you only 5.25%. Because inflation was much higher than the interest rate cap, savers essentially paid a “tax” on their purchasing power. By 1979, the real return on these accounts reached a low of -5.8%.
A knocked down sign at the intersection of Old Karner Road and former Centerville Road. I think it's ironic, the concept of no dumping allowed in the Pine Bush, as garbage dumping is the primary activity that funds that Pine Bush Preserve and pollutes it too.
