A 1988 Frank Laloggia picture called Lady in White. A commenter in IMDB named Dr. Tart fairly encapsulates my thinking:
"'Lady In White' is beautiful. It's a tale about murder and revenge set in a small town...that just happens to be haunted by a the ghost of one of the victims. Director Frank LaLoggia gives the tale plenty of common sense and allows the stars to portray their characters very realistically, which adds a much more sinister element once the ghosts are introduced. What's more scarier than ghosts appearing to "real" people? It's smart, scary, stylish, and keeps you guessing. I highly recommend this movie."
The film is largley unrecognized, and LaLoggia didn't do another picture, but my top 5 ghost pictures would now be
The Uninvited
Lady in White
The Others
The Changeling
The Shining