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So much for the new economy that economists promised would take the place of the lost manufacturing economy.

So much for Indiana's hopes of a peaceful season.

What is the meaning of 'so much for'?

Thanks!
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"So much for..." suggests that something has not been successful or useful.
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You say so much for something when it does not happen in the way you hoped or expected:

"It's raining." "So much for our day at the beach."

(from Cambridge Dictionary of American English )
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Comments  
A person who has just done serving his house arrest says "So much for being spatially challenged". Does it mean that the measure (house arrest) has not been successful?
 Marius Hancu's reply was promoted to an answer.
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Marius Hancu, your definition fits well with the original two contexts, however, not with the house arrest context. Is there another definition?

By the way, the Cambridge link is broken.
Hi,

A person who has just done serving his house arrest says "So much for being spatially challenged". Does it mean that the measure (house arrest) has not been successful?

In this example, the person is exclaiming, in a way that sounds enthusiastic, that the period of house arrest is finished. It doesn't sound like he feels chastened.

Clive