The airline transport pilot departed on a cross-country flight to relocate his newly-purchased airplane to his home state. A fixed-based operator employee at the airport reported that the pilot overflew the airport and requested verification that his landing gear were extended. The employee confirmed that they were down. After overflying the runway the airplane descended and impacted trees and terrain. Another witness reported that after the low pass, the airplane started to climb and then turned right at an altitude of 250 to 300 ft above ground level. He added that as the airplane turned, its tail "wobbled," which he attributed to a loss of engine power. Then the nose pitched down before it descended below the tree line. The airplane separated into several pieces, and the forward fuselage and engine came to rest inverted behind the empennage.
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