Can you put a ground loop for a geothermal system below the basement floor?

Q: For new construction, would it be possible or make sense to put in loops for a ground source heat pump below the structure? 

A: I have not seen this done, but I have thought about it for new construction. Since you are excavating for the basement anyway, why not just go down a few feet more and put in ground loops? I think this would greatly reduce the cost of adding geothermal. However, I do not know if this would reduce the cost enough to compete with air-sourced heat pumps. The downside I can see is that your basement would get colder which could lead to increased condensation in summer when it is humid.