In this article we study several homology theories of the algebra E ∞ (X) of Whitney functions over a subanalytic set X ⊂ Rn with a view towards noncommutative geometry. Using a localization method going back to Teleman we prove a Hochschild-Kostant-Rosenberg type theorem for E ∞ (X), when X is a regular subset of Rn having regularly situated diagonals. This includes the case of subanalytic X. We also compute the Hochschild cohomology of E ∞ (X) for a regular set with regularly situated diagonals and derive the cyclic and periodic cyclic theories. .