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I don't know much about the lake itself... I think it's a bit shallow, however that area, as a place to live and/or visit is very nice. I know some people in that area, and they're some of the nicest people I've met.
As for "atmosphere", I'm not sure what you mean exactly, but it's a very pleasant, quiet area. The surrounding areas such as Hartland and Highland are starting to grow, and I understand that there will be a new mall around US-23 & M-59 (Highland Rd.) in the near future. Could be a good investment opportunity if that actually happens, but that would be about 10 miles +/- from Tipsico. Huron Valley Schools are decent (I attended Huron Valley from K-10th before moving to Brighton, MI). But I think the School districts actually cut right through Tipsico Lake, so your friend may be in Holly Schools (I think) which are also quite reputable, from what I hear.
All in all, very nice area, not too far from civilization.
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