I can think of two possibilities:
1. If you're looking at the raster in ArcMap, make sure that the data frame's display units (data frame properties, general tab) are set to meters).
2. Did you use the Define Projection Tool or the Project Raster Tool? The first one updates the metadata but doesn't change the raster's extents or georeferencing. If you did use the Define Projection tool, use it again to set the coordinate system back to WGS84, then use the Project Tool.
I hope this helps,
Melita