- In the late 1800s Needham Norris built a grist mill at the lake.
- In 1892 John Mills bought the property and named the lake Mills Pond.
- In the early 1900s, an old country store was located on the lake's banks where visitors could relax on the porch and fish for $.50.
- The old grist mill collapsed during a storm in May 1949.
- Harry Cornell purchased the lake in the early 1950s and renamed it Bass Lake, reflecting his love of nature and wildlife.
- In 1996 during Hurricane Fran, the dam burst and the lake drained dry.
- In 1999, the Town of Holly Springs acquired the property and began a lake restoration project.
- The restoration was completed and the lake opened to the public in 2004.
- Visitors once again relax on a lakeside porch, and they can fish for free.
- The lake is fed by three creeks and has been a favorite spot for fishing, family picnics and baptisms for over 150 years.