The town of Savoy was established in 1872 on land sold to the Texas and Pacific Railway Company by Col. Wm. Savoy, in whose honor the town was named. The land was surveyed by the railway company, played off in lots, a plat of the town made and lots were sold to the public for building purposes.

The center of the business district when the town was established, was located on Main Street, the street that begins at the depot and extends across town to the south. The first business house erected was located at the corner of Main and Front Streets, across from and facing the depot. It was built by Hodgeson and Beard and occupied by them with a stock of general merchandise. About the same time another building was erected on the east side of Main Street facing north on Front Street and was occupied by R.T. Best with a saloon, while adjoining him on the east, W.N. Your opened a general merchandise store. These were the first business institutions of the town and they were established before the rail road was completed into town. Following the completion of the railroad, and its extension to Sherman, there was a building boom and a considerable number of residences were built, then followed in rapid succession other business houses, with different lines of merchandise, and within a year, Savoy was a thriving town and a popular trade center for a large territory, Bonham, Sherman and Denison being the nearest railroad towns, in fact there were no other towns in this immediate section.

The town continued to grow and prosper until it was destroyed by a cyclone on the night of May 28, 1880. The business district was completely wiped out and all goods wares and merchandise were destroyed. Almost all of the residences were demolished, several persons were killed, and many more were maimed and crippled. After the debris was cleared away, the town was rebuilt and the business section was established in frame structures on Water Street, from which it gradually withdrew to be housed in modern brick buildings until it was all finally located on Hayes Street, its present location. Improvements have continued to mark the progress of the town and it now has good churches, good schools, a modern water system, electric lights, gas and telephone service. For transportation, it is served by the old faithful T & P railroad, motor transport and passenger busses. It is on Federal Highway 82 that extends from New York to Los Angeles, which is concrete pavement most of the way, and provides an outlet in every direction. It is surrounded by a farming district and depends upon agriculture for its livelihood. Its citizens are above the average in intelligence and ability as compared with those in most small towns, many of them owning their homes and being permanently anchored in a business way. In the main, they are contented and happy, feeling that the few advantages not provided in a small town, can be reached in a few hours’ drive to the city and that when God created Fannin County and Savoy, He intended that honest, law-abiding citizens should live there, hence it has had no calicoes there for twenty years. It has more churches and larger school that at any other period in hits history.

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