Abstract We investigate the relaxation dynamics of the fermion two-point correlation function $C_{mn}(t)=\langle\psi(t)|c_{m}^{\dag}c_{n}|\psi(t)\rangle$ in the XY chain with alternating nearest-neighbor hopping interaction after a quench. We find that the deviation $\delta C_{mn}(t)=C_{mn}(t)-C_{mn}(\infty)$ decays with time following the power law behavior $t^{-\mu}$, where the exponent $\mu$ depends on whether the quench is to the commensurate phase ($\mu=1$) or incommensurate phase ($\mu=\frac{1}{2}$). This decay of $\delta C_{mn}(t)$ arises from the transient behavior of the double-excited quasiparticle occupations and the transitions between different excitation spectra. Furthermore, we find that the steady value $C_{mn}(\infty)$ only involves the average fermion occupation numbers (i.e. the average excited single particle) over the time-evolved state, which are different from the ground state expectation values. We also observe nonanalytic singularities in the steady value $C_{mn}(\infty)$ for the quench to the critical points of the quantum phase transitions (QPTs), suggesting its potential use as a signature of QPTs.