We describe the wall and chamber structure of a special biserial algebra whose module category is equivalent to the category of (middle) perverse sheaves on the complex projective space $\mathbb{P}^n$. In particular, by the well known classification of indecomposable modules for special biserial algebras, we deduce that the algebra of interest is of finite representation type and we provide an explicit description of the walls of the structure. By a result of Bridgeland this wall and chamber structure coincides with the chamber structure in an open subset of the space of stability conditions on the bounded derived category of constructible sheaves on $\mathbb{P}^n$.