I think a lot of people are seeing what they want to see in this. Once a company figures out how to leverage a developer in the Midwest as effectively as one in the Bay Area what stops them from hiring in the Dominican, or Mexico or South America? I've worked with fantastic developers from those areas who can effectively work on the same timezones, communicate well and write high quality code.

I know personally, I've seen a lot of hiring shifting to Latin America in the last 2 years. I don't think this is going to be the midwestern/southern renascence that people think it's going to be.