Cherokee Village was founded in 1954 by a Mr John A. Cooper Sr. He wanted a city that was like a city, but close to the beautiful nature of Sharp and Fulton Counties. Cherokee Village has become a model for retirement communities in the US.
In 1969 the Cherokee Village Suburban Improvement District that got responsibility for fire protection, maintaining roads and streets and recreational facilities.
Mr Cooper sold the holdings of the village to Mr and Mrs Eben Dagget, owners of Dagget Development Corporation, in 1992.
In 1997 the people in Cherokee Village tried to get the City incorporated. It is located right in between Sharp and Fulton counties, and it applied for incorporation in Sharp county first, but was denied and therefor tried with Fulton instead. The petition was granted, but only for the part located in Fulton. So in January 1998 Cherokee Village West was incorporated into Fulton County. In April the same year the two sides of where united as City of Cherokee Village with a population of about 4,600.