The answer is always ... "it depends". I am a Montana licensed real estate appraiser (15 yrs) and real estate agent located in Ravalli County and I have completed an extensive amount of data analysis on property values over time in this market known as the Bitterrot Valley. The data shows property values declined in the Bitterroot Valley between the fourth quarter of 2007 through the second quarrter of 2012. If you would like more specific details, please feel free to contact me. (Just search for my name in google or any other search engine and you can find my contact information.)
Look through your appraisal report carefully and see if the information regarding your home is accurate. This will help you to decide if you really think you received a valid opinion of market value in 2006. If there is minimal deferred maintenance and recent remodeling, the physical depreciation should be minimal, but the external depreciation caused by current economic market condition have affected all the residential properties in this market.
An appraisal is an opinion, but most agents are over-listing properties, which results in long exposure times in the market. Get an expert's opinion of what your property is really worth from a qualified professional appraiser and then use a real estate agent to help you sell your property to a qualified buyer at a reasonable sale price.