Well, it can't hurt.
We had a thumping in our pipes which I thought was water hammer, except that it happened whenever we turned off any fixture. It was more of a soft, tapering thump...thump...thump as opposed to a loud bang. Before I had a chance to work on it, a few of the neighbors were hanging around and when I brought up the thumping, a couple of them said "Me, too!"
The next day I called the Water Authority, They said that they were aware of the problem and that the water main was scheduled to be replaced in about a month. They suggested we wait until the work was done before we tried to eliminate the thumping on our own. The day the water main was replaced, the thumping stopped.
I never inquired as to the root cause, but everybody's thumping stopped as soon as the Water Authority's work was done.