It is believed that the lack of governmental records supports the idea that Spearsville began as a trading post.

The earliest confirmed record of settlement in the area is from 1875 when the Spearsville Church of Christ was built.

An 1895 map of Union Parish claims that a post office was operating since 1848, as well as the fact that the settlement was known as "Spears Store" at one point in time.

[4] According to the United States Census Bureau, the village has a total area of 2.1 square miles (5.3 km2), all land.

About 23.4% of families and 23.3% of the population were below the poverty line, including 12.5% of those under the age of eighteen and 32.0% of those 65 or over.