Depends on meteorite's density. If you drop a rock from an airplane it will reach it's terminal velocity- different rocks different terminal velocities- a rock with the mass and density of large canon ball would create a small crater.

Also all meteorites will hit the ground at least at their terminal velocities, if a small meteorite is part of a more massive meteorite which breaks up at a low alitude [say somewhere around a mile or so above the ground] then a small meteorite can hit the ground at higher speeds than it's teminal velocity according to it's mass in relation to it's air resistance.