Counter-counterpoint, Toyota consolidated several offices in CA/KY/NY to one HQ to Plano, TX and brought about 2800 out of 4000 employees. It was a big disrupter to local housing prices, with massive swaths of land experiencing the maximum-by-law 10%-yearly property tax increases.

(Source: https://www.dallasnews.com/business/local-companies/2018/07/...)

I don't know if there's any easy generalizations to suss out. Probably every case will be very specific to the work being done, the environment it's done in, and the people it's done by.