I had a low riding stern on my 1996 Tournament 192 equipped with a new Mercury 150 4 stroke. Turned out the problem was a lot of water in the bilge area. I had bought a repowered 192 with new motor, instrumentation, seats, etc. I keep my boat on a lift at my dock, and before putting it back in the water I would run the bilge pump to jettison any accumulated rain and other water. Only a tiny amount of water would come out which I thought was a good sign that water was not getting in. But the boat would always ride very low in the stern. After investigating it turned out the line from the bilge pump through the bilge hole on the starboard side was blocked solid from years of accumulated silt/debris. So although the bilge pump ran and would sound like it was working, very little water was able to get through the clogged line. After flushing out the clogged bilge pump line in both directions, the bilge pump was then actually able to do its job and eject accumulated bilge water. Not surprisingly the stern now sits much higher in water when the bilge is dry instead of being full of gallons and gallons of water!