Young County records show that on Monday, April 10, 1865, Judge Martin V. Bowers ordered the county records be moved from Belknap to Flag Springs for security and safety as the county's organziation fell apart. There is no historical evidence that the records were ever kept at Flag Springs. Young County would become attached to Jack County and the records were then moved to the county seat of Jack County, Mesquiteville, which is know Jacksboro.

The Graham Leader records show that in August 1878, a horse racing track was created east of the spring location. It became one of the most famous betting tracks in the southwest during its time period. One of the more famous jockeys was Pete Randolph. Pete would later be elected Sheriff of Wichita County, Texas. The last race on that track was held in 1905.

With the building of Norris lake, the spring was dynamited to increase water flow during the oil boom of the 1920s.

Flag Springs is the earliest settlement in Young County and had a stable, houses, dugouts and a general store.

The springs are still flowing but nothing remains of this community.