The current through a resistor is proportional to the voltage across it:
$$I = \frac{V}{R}$$
This can also be written in terms of the change of current and the change of voltage:
$$\Delta I = \frac{\Delta V}{R}$$
If the collecter end of R1 was connected directly to a fixed voltage source VC, the voltage across it would be Vin VC, and any changes to this voltage would be attributed only to Vin. Therefore, the current changes through it would be:
$$\Delta I = \frac{\Delta V_{in} - \Delta V_C}{R} = \frac{\Delta V_{in}}{R}$$
since ΔVC is zero. We could calculate the effective resistance as:
$$R_{eff} = \frac{\Delta V_{in}}{\Delta I} = \Delta V_{in}\cdot \frac{R}{\Delta V_{in}} = {R}$$
All of this is pretty obvious, but what if VC varies, and does so in proportion to Vin:
$$V_C = A_V \cdot V_{in}$$
Now we have to write:
$$\Delta V = \Delta V_{in} - \Delta V_C = \Delta V_{in} - A_V \cdot \Delta V_{in} = \Delta V_{in}(1 - A_V)$$
Therefore:
$$\Delta I = \frac{\Delta V_{in}(1 - A_V)}{R}$$
and:
$$R_{eff} = \frac{\Delta V_{in}}{\Delta I} = \Delta V_{in}\cdot \frac{R}{\Delta V_{in}(1 - A_V)} = \frac{R}{1 - A_V}$$
Keeping in mind that AV is a negative number (a common-emitter amplifier inverts the signal), this tells us that the effective resistance is the real resistance divided by the gain of the amplifier.
In other words, if Vin varies by a little bit, the far end of the resistor swings in the opposite direction by a much larger amount, causing the current to be much larger than it would otherwise be, which makes the resistor seem much smaller than it actually is.