Terra Ceia was at one time mostly an agricultural community settled in the 1840s. Terra Ceia was known for its rich soil on the island. At Terra Ceia Citrus, vegetables, celery and pepper and flowers were grown here. Terra Ceia at one time was known internationally. It food was so famous that asters that were grown here were used the William Taft's inaugural parade. In 1897 the town was listed with a population of 120 homeowners. The town's main commercial district developed along Terra Ceia Bay when at the time most shipping was down by water. Businesses and homes lined a waterfront road where businesses were built on docks for easy boat access. The town lost its bay side commercial district when the railroad arrived in the 1910s and the center of town moved further inland. With the coming of the railroad most likely resulted in a spike of population and by 1913 the local newspaper reported there was 700 residents here. Land at the time was valued at $500 - $1,000 a acre. (Worth exactly $12,133.13 and at the maximum $24,266.26 in 2016). At the town's peak there was a general store, a bank, a packing house, and a railroad depot. In 1926 a storm surge washed over the island and made it hard to grow crops there. The Seaboard Airline railroad soon no longer provided service and the rail line and the depot was abandoned. In 1931 the Bank of Terra Ceia failed because of the Great Depression. The former bank building now houses the post office.