This will be determined by the schools performance. Unfortunatly that is mostly out of your hands.
I have many people that have the same concern in my area where they are building the new North Gwinnett Middle School.
I think it depends on the quality of schools and their service area. Schools that offer something exceptional make living in that school's service area a big plus. The other aspect (I live about a quarter mile from a high school, middle schoo, and elementary school) is how the three schools work together.
For instance, we have a new music teacher at the high school, and she has arranged for students from the elementary and middle school to participate in some of the musical productions such as band, chorus, and talent shows, and it is a real plus.
Generally speaking, I would agree with you. Obviously, there are some other strong schools in that area that certainly affect property values for the better.
People resist change often and fear the the new schools may not live up to the standard of the others. Not everyone buying homes is concerned about schools for themselves directly - and unfortunately, not all people consider that the people who will be buying their home later may have an interest in schools.
So, to answer your question, it SHOULD generally be a good for values in the area assuming a number of things ...
Best of luck to you!