It is located north of Tignish, near the communities of Skinner's Pond, Ascension, and Peterville.
It was founded by a cattle farmer by the name of Glenn Joseph Ellsworth in the early 19th century, and was reformed as an official locality in 2000.
Ellsworth, discovered Nail Pond while making his way north from Tignish.
He then settled there with his wife and several family members from England who emigrated to the area.
In November 2024, a Blue whale washed ashore on Nail Pond beach.