(1) Except as provided in subsection (2), when any railroad or railway company operating its line of road in, into, or through the state moves any of its division points or terminals, it is liable to any employee of the railroad or railway company for any damage sustained by the employee by reason of any decrease in value of any real property actually occupied by the employee as the employee's place of residence that is caused by the removal of the division point or terminal. However, the employee must have a freehold estate in the property. The damages are collectible in any court of competent jurisdiction.
(2) When any railroad or railway company in good faith determines upon a change or removal of any division point or terminal and in good faith posts prominently at its station house, shops, and yards a statement of its intention to do so in a manner that gives reasonable notice to the employee, it is not liable, as provided in subsection (1), for any decrease in value of any interest in any property purchased after the time of the posting if the division point or terminal is changed or removed within 6 months after the date of the posting.