Continuity mistake: When the tentacle monster rips out a chunk of Norm's chest, a large spray of blood splashes on his right-side jaw and cheek. In every subsequent shot of him, this blood is gone and his jaws are completely clean. (00:26:30)
Trivia: At the very beginning, David sits in front of his newest drawing, showing a man with two guns, a rose right of him and a tower far behind on the left side. This drawing shows Roland, a character out of "The Dark Tower", a well-known series of books from Stephen King. This drawing is shown again, some time later after the storm, and David tells that this drawing was meant to become a film poster. (00:00:30)
Answer: The film is contemporary, as was the original story. Neither was meant to be set in a specific time period other than "now." The reason for the many older vehicles is that the film takes place in a small town. Notice that none of the older vehicles is in new condition. The presence of cell phones and modern products and clothing in the store indicate it is set in the present.