To me...it looks like it could be a real artifact. It looks similar to a 2nd NATIONAL flag... (this flag in the photo is NOT a CS battleflag and if it was carried at New Market it could not be the next flag...the 3rd National CS )...that was lost by the 44th Georgia at Cedar Creek. The 44th's flag has thinner white trim on the St Andrew cross..but some variation is normal.

The article does not mention the guy's ancestor's regiment...too bad.