It is a constantly developing community, and is currently under the eye for becoming its own city (it is, as of now, part of The City of Myrtle Beach). Which probably won't happen any time soon.
The school-agers in this area attend the Carolina Forest Highschool, Carolina Forest Elementary, Ocean Bay Elementary, Ocean Bay Middle, and soon to be River Oaks Elementary. (There are a lot of people.)
It isn't recommended that you move here; the school systems are shitty and there are so many people here. However, if you do, there are benefits. You get to live in the 'burbs, you have loads of city-type things near you (restaurants, gas stations, shopping centers, schools, dry cleaning services, car dealerships, and loads of other stuff.
In addition to the numerous amounts of Yankees and other people, there are a lot of College-Level students that rent houses in Carolina Forest, most often with other people, instead of living in a dorm room. These students usually go to either Coastal Carolina University, or Horry Georgetown Technical College.