Do you believe color therapy can create a tranquil home?

I am a firm believer that color is a great therapeutic tool. I need to repaint my home, when I get the energy so on that thought, what do you know about color and mood? As well as what did work for you? I love red but not sure if it is a good therapeutic color to use for e.g. depression. I know I can Google this, but it would be great to hear of personal experience and knowledge of the subject.

Thanks