The team is owned by real estate investors Larry Gottesdiener, Suzanne Abair, and former Dream player Renee Montgomery.

The franchise has been home to many high-quality players such as University of Louisville standouts Angel McCoughtry and Shoni Schimmel, former Finals MVP Betty Lennox, and Brazilian sharpshooter Izi Castro Marques.

[8] The inability of the Atlanta Hawks of the NBA to draw crowds was a concern of the WNBA, and the committee kicked off an effort in February 2007 to gain volunteers and petition signatures.

Afterward, Meadors had served as a scouting director for the Miami Sol and had been an assistant coach under Richie Adubato and Tree Rollins for the Washington Mystics.

Not wanting a repeat of 2008, head coach and general manager Marynell Meadors acquired players such as Sancho Lyttle, Nikki Teasley, Chamique Holdsclaw, Angel McCoughtry, and Michelle Snow in the 2008–2009 offseason.

In 2009, Atlanta reached the playoffs at 18–16, exceeding their previous record by 14 wins, but lost in the first round to the 2008 champion Detroit Shock in a sweep.

Addressing arguably Atlanta's biggest concern, the team traded for All-Star point guard Lindsey Harding prior to the 2011 season.

Despite the addition, the Dream struggled to open the season, starting with a 2–7 record due to an injury that sidelined Angel McCoughtry and overseas commitments by Sancho Lyttle.

They carried that momentum into the playoffs, sweeping the Connecticut Sun and defeating the Indiana Fever to return to the WNBA Finals.

[20] The Dream started the 2012 season with a 12–12 record and fired head coach and general manager Meadors during a dispute with league-leading scorer Angel McCoughtry.

On October 18, 2019, the Dream unveiled an updated logo and color scheme, the first change to their branding since the team's inception in 2008.

[27] Star Angel McCoughtry announced that she wasn't going to return to the Dream in the 2020 season – choosing to sign with the Las Vegas Aces.

The Dream selected young star guard Chennedy Carter in the 2020 WNBA draft to start the rebuild.

Shortly after the George Floyd protests began, the WNBA and players' union decided to put Black Lives Matter and Say Her Name slogans on warmup gear and opening weekend uniforms.

[29] A three-member investor group, including former Atlanta Dream guard Renee Montgomery, were approved to purchase the team in February 2021.

Wright had played in the league for 12 years and had most recently been an assistant under Bill Laimbeer of the Las Vegas Aces.

The expanded partnership was put on display as the Emory Healthcare logo made its debut on the Dream’s jerseys during the 2022 season.

[4] The Dream began looking for their next face of the franchise and acquire the 1st Overall Pick in the 2022 WNBA draft from the Washington Mystics on April 6, 2022.

Howard was a three-time AP All-America First Team selection, averaged 20.5 points, 7.4 rebounds and 3.3 assists as a senior.

In 2013, the team qualified for the WNBA Finals, but a scheduling conflict forced them to play home games at The Arena at Gwinnett Center, in suburban Duluth.

Due to renovations to Philips Arena during the Hawks' 2017 and 2018 offseasons, the Dream played home games at McCamish Pavilion on the campus of the Georgia Institute of Technology.

[50] In late 2024/early 2025, the team gained publicity as a video of a young man dancing courtside at an Atlanta Dream game went viral on social media platforms Instagram and TikTok.