Can we get our earnest money back if the house doesn't appriase the right value?

We recently put down $5,000 earnest money (required by the builder) for a house we want to buy. But, I have been looking at recently sold homes in the neighborhood and none of them are as expensive as the one we want and ours is a little smaller then the rest of the house's recently sold. If the bank appraiser doesn't appraise the house for the asking price, can I get my earnest money refunded and back out of the deal?