Depending upon the makeup of the object itself, there could be ill effects from the smoke or smaller fragments breaking off. The notion of meteorites being toxic isn’t entirely a creation of comic books and science fiction.
If those fragments happen to be a carbonaceous chondrite it is worth $10,000 per gram if found.
I wasn’t even considering the potential toxicity - I was wondering just about the physical effects of a large hypersonic object passing low “overhead”.