Certainly holds true for St. Louis as it hold the record for the most shrinkage of any big city in America
Big cities have been going "donut" for decades. As the hole in the middle grows, the dough of the suburbs/exurbs grows. As the big cities seize control of the State governments, people and companies have been "exurbing" entirely out of their states.
@DB moved from the Bay Area to the next state over. A billion-dollar investment house is moving from Seattle to Phoenix. Voting with the feet is continuing apace.