I recently sold a house in Charleston SC for exactly these reasons. My thinking was that sea level is rising and storms are getting stronger and more frequent. All it will take is one hurricane and two things will happen to strip any gains from my home: 1.) the market will be flooded with bargain inventory as people decide to move elsewhere and 2.) potential buyers will be more aware of the risk and be less willing to pay a premium. Additionally conversations are beginning about the wisdom of federally subsidised flood insurance.
I live in NC now and on our coast, Cape Hatteras sticks out like Americas sore elbow, getting hit by tons of storms. Here, its illegal to use scientific projections when considering coastal zoning.
If you're interested, there's a whole book on the subject - The Geography of Risk