Local gun sales down since President Trump's inauguration

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SHERMAN, Texas (KXII) -- The once-booming gun industry is now seeing a drop in business since President Trump took office.

Two local gun store owners said after seeing a surge in sales during Obama's presidency, they've since seen sales go down.

FBI data shows they're not alone and background checks are way down this year, but the local owners said the decrease is just bringing things back to normal.

"Sales have been up since around 2012," owner of American Armament Josh Loe said.

"The last few years have just been an anomaly because of the previous office and the chance of them banning certain items and various other gun laws," owner of Red River Firearms LLC Jason Webb said.

Industry figures show from 2004 to 2013, sales of all handguns increased nearly five-fold, according to the Associated Press. Another surge hit right before the 2016 election, when the uncertain future for gun regulations led people like Jacob Pelley to rush out and by a firearm.

"We kind of made a decision that firearms were either gonna be much more valuable tomorrow or less, and turned out, there was a surprise in the election and they were probably worth less," Pelley said, who is also a local firearm attorney.

Now, two Sherman gun store owners said they've seen a decrease in sales since the inauguration.

"Hillary didn't get elected and it kind of brought everything back down to normal," Loe said.

"Gun sales are going down, but they've gone back to normal," Webb said.

FBI data shows in January through March this year, there's been a million less firearm background checks than those same months last year.

Texas hit a record of 1.7 million background checks in 2016, but now it's down by 100,000 checks compared to the same time last year, and in Oklahoma, it's down by 16,000.

"A lot of the big manufactures are hurting as well, they are laying off employees, so it's an interesting time in the firearm industry," Pelley said.

Major manufacturers like Ruger and Smith and Wesson lost over 25 percent of their stock value in the days after the election. Neither has recovered their pre-Trump price.