Located on the main drag in the flood zone. The record flood struck on March 1, 1997 when 5 people were killed and 1,000 people lost their Holmes. A wall of water 24' in height struck the area where the Licking River and South Fork of the Licking River merge. The wall of water was the result of the release of water at Cave Run Lake near Morehead, Kentucky. If the water had not been released it was feared the dam would fail and create an even larger disaster. Falmouth of little warning of the release. A series of warning sirens were installed after the disaster but the possibility of more flooding remains. Most of the remaining businesses relocated away from the river and left the flood plain.