Its reservoir, Davy Crockett Lake (named for the folk figure who was born a few miles upstream from the modern dam site in 1786), has roughly 800 acres (320 ha) of water surface.

[3] Nolichucky Dam was built by the Tennessee Eastern Electric Company (TEEC) in 1912-1913 for hydroelectricity generation.

[3] In 1941, the East Tennessee Light & Power Company obtained ownership of the dam when it purchased TEEC's assets.

Heavy rainfall from Hurricane Helene on September 27, 2024 caused major flooding on the Nolichucky River leading the TVA to issue a Condition Yellow warning that the dam could fail or breach.

At 12:13 am on September 28 TVA issued a Condition Red Warning and that a breach or failure is imminent, which would cause life threatening flooding in areas below dam.