A term of endearment, interchangable with homeslice, homeboy, etc. Other favorites:
home cookin'
home field advantage
homemade
home sweet home home dog
home away from home home brew
home of the brave
homey
homeward bound
home improvement
etc.
Used when referring to something that could be considered low class, tacky, or redneck. This term would be used in place of "white trash" as to sound less indignant. Mostly used by the person performing the "white trash" action.
You are talking to your father about Christmas lights outside his house and he informs you that half of them blink. The other half does not.
"Dad, that looks so trashy."
"No. It's just homestyle."