Located on the former "Patterson Horse Racing Arena", CBL and Associates conducted a groundbreaking ceremony on the property in 1979 to construct Dalton's first enclosed shopping center.

During the five day period July 23 -27 1980, CBL celebrated their grand opening of the mall with guest appearances from Steve Gipson and Fubar the Robot.

The opening of another senior anchor, JCPenney was delayed until spring 1982, due to an existing lease at Bryman's Plaza.

It is said that CBL intended on bringing Miller's Department Store as the mall's fifth and final anchor, but it fell through.

In 1990, Walnut Square Mall underwent a renovation which included a new facade, tile flooring in the courts, and a new color scheme.

[5] The inline cinema space was converted to mall storage, and eventually fell into a dilapidated state.

[7] Sears closed the auto center in November 2017 and moved all equipment to their Hamilton Place Mall location in Chattanooga, Tennessee.

The mall underwent extensive renovations, including updating the facades, changing the paint scheme, laying carpet flooring throughout and covering vacant storefronts with murals that depict the local heritage.

As of 2020[update] stores that have opened with the mall in 1980 and remain today are Belk, Zales, Time Out by Pac-Man, Great American Cookies, GNC, Claire's and Chick-Fil-A.