There are definitely all kinds of impacts. Motorists experience long waits before they can cross the tracks and that stresses them, and trains frequently obstruct the level crossings for an hour or two. So people have to leave home earlier. Their stress levels rise, and that can exacerbate the situation.
Motorists sometimes decide to use the other exit and speed down the town's streets, but they're trapped when they get there too. That raises danger levels in the town. People roll the stop signs and want to drive as fast as possible from place to place to make sure they can enter or leave the town.
People are used to the noise, but the situation has an impact on them from a safety standpoint.