Performance issues switching between Spaces

I am running OS X 10.8 on a mid-2012 MacBook Air. I started noticing some performance hiccups a couple of weeks ago with Spaces. Over several days, it becomes slow and laggy and becomes basically unusable. I think I can say with a good bit of confidence that it is not a hardware (trackpad) issue. No other guestures are affected. Two-finger scrolling and swiping in to activate the notification center remains intact, as well as the four-finger gestures (Exposé desktop), and even the three-finger swipe up into Mission Control seems to remain functional. Only three-finger swiping side to side to switch between Spaces is affected—even using control + left/right arrow keys demonstrates the same lag of about 2-3 seconds. I don't think it's a memory issue as I've looked at Activity Monitor as well as quit most active processes and the performance issue persists until I restart.

Has anyone else had issues with Spaces performance? Have any suggestions?