Legend has it that Honey Grove owes its name to Davy Crockett, who in 1836 camped near the present day Honey Grove on his way to the Alamo and wrote about the area in a letter home. Samuel Erwin first settled the area in 1842 and from 1845 settlers moved into the town.
By the turn of the century Honey Grove was a prosperous mercantile center owing its wealth to the surrounding countryside of farmers and their cotton crop. The wealthy planters and merchants built beautiful homes and churches, and lived a lavish lifestyle. There was also a great emphasis on education and religion.
While Honey Grove has lost some historic buildings, the town square and many wonderful buildings remain. There are several antique shops on the Square. Honey Grove has a driving tour of over 50 historic structures and a walking tour of the historic Square. The Davy Crockett Quilt Trail features many colorful painted quilt squares. In late September the Davy Crockett festival is held on the Square.