"Commercial construction in Georgia and Atlanta is still sluggish," Anderson said via e-mail. "Opportunities are still very limited and will likely remain this way throughout 2012."

Anderson believes the multifamily, health care and education markets "hold the best opportunities" for most contractors in 2012, while public-sector construction may feel the pinch of declining budgets. At the same time, he added, "Larger firms may continue to see increased activity in the energy [and] power sectors."

Further, he expects the flat conditions to continue through 2012, but holds out hope for a politically based influence on the market.

"We are cautiously optimistic that the [construction economy] will become reinvigorated late in 2012, if the elections sway towards the pro-business candidates," he said.

North Carolina: 2012 Blues The optimism of McGraw-Hill Construction's economists apparently fades when they focus on the Tar Heel State. The company predicts that North Carolina will see the volume of its construction contracts shrink again in 2012, by 9 percent, and total roughly $13.2 billion. That would be on the heels of 2011's 2 percent overall decline, when roughly $14.5 billion in new contracts moved ahead.

Last year, both building markets fell: residential by 5 percent for a total of $5.7 billion in new contracts; and nonresidential by 16 percent, for $4.5 billion in new work.

Unfortunately for commercial building contractors, the market is only looking down, according to McGraw-Hill. The company expects the nonresidential sector to drop 6 percent further in 2012.

Residential is looking up, though, and is expected to improve by 7 percent overall. In Raleigh, for example, a team of New York and Atlanta developers announced plans to build the Crest at Brier Creek apartment complex, valued at $37 million.

The big downturn is in the nonbuilding, or infrastructure, category. Here, McGraw-Hill projects a 33 percent downturn from the $4.4 billion in new contracts that were initiated in 2011.

Steve Stouthamer, executive vice president and general manager with Skanska USA in Raleigh, still sees trying times overall. Wake County Public Schools has a few projects moving forward, he says, "a good sign."

But the Raleigh-Durham area, known for its universities, is delivering "very few" higher-education opportunities for contractors, he adds. "Opportunities are out there," Stouthamer added, "but to a far less extent than the 2004-2008 timeframe."

South Carolina: 8% Gain Expected According to McGraw-Hill Construction, South Carolina was the other Southeast state to move in a positive direction in 2011. The company reports that the state's final overall value for 2011 contracts came in at roughly $7.8 billion, or 12 percent better than 2010's $6.6 billion tally.

All three construction categories contributed to the upturn, including residential, where a 20 percent monthly gain in December edged the housing market to a 1 percent overall increase for the year, for a $3.4-billion final total.