According to this article from the BBC, Atlantis was a real place, and they've found it.
Are you ready?
It's the Greek island of Crete.
There is evidence that 1,500 years ago, the Minoans were wiped out by a massive tsunami. The Minoans were a technologically advanced people. They had paved streets an working sewers. They were also a naval superpower in the region.
With the analysis of the 2004 tsunami, we know that it had an 80% mortality rate to the people who lived in the area affected. The damage from the tsunami that happened 1,500 years ago would have decimated the Minoan society, and the survivors would have passed on the story of how the sea came up and consumed them.
This makes perfect sense to me.