Thomas Maxwell, who received a grant for the land on which the community is located in 1845, was honored by the name change.

The majority of Maxwell's early immigrants came from Alabama and other states, but German groups began to migrate there in the 1880s; their impact may still be seen today.

Early Maxwell's social life was dominated by the singing, dancing, and shooting clubs common to German settlements.

The Maxwell Social Club was established in 1953 to oversee sporting and leisure activities as well as to support charitable, humanitarian, and other community programs.

Maxwell came dangerously close to being destroyed by fire three times: in 1887, in 1910 (when the town rebuilt its commercial district in brick), and in 1922.

[4] MCVFD - Line of Duty Deaths On June 20, 2022, Assistant Chief Jonathon Coco and firefighter Hunter Coco of the Maxwell Community Volunteer Fire Department were killed in the line of duty when another vehicle struck the fire apparatus they were in.

[6] On July 30, 2016, the town gained attention due to the 2016 Maxwell Hot Air Balloon Crash.

The hot air balloon struck a power line in Maxwell and caught on fire, killing all 16 occupants aboard.