My impression of the top end of typical developer salaries in Atlanta doesn't quite go that high, but it's possible they're crept up since I last took a look.
I agree that metro Atlanta is not an especially high-cost area, though parts of it certainly are; ITP in general is getting overheated. I lived in Midtown for the better part of ten years and by the end of that, rents seemed on par with Brooklyn and Chicago, though I did have to upgrade from single-person housing on account of a short-lived marriage.
Nowadays, I've moved back to Athens. Where are you?