One of the most popular waterfalls to visit in Greene County, TN is the spectacular, 60-foot-tall Margarette Falls (sometimes spelled 'Marguerite'). The hike to get there is surprisingly beautiful, but also fairly strenuous. The trail snakes its way through impressive rock formations, over and around lots of small waterfalls and cascades, and across four creek crossings as it makes its way through the gorge to the falls. Even though it's listed as a moderate/strenuous hike (the slick rocks, the humidity and my backpack weren't helping me), I have to say it's one of the most scenic hikes in our area. The waterfall itself is magnificent - the combination of free-falling water and cascades makes this waterfall unique and picturesque.
Directions from I-26 -- take the Erwin/Jonesborough exit #37. At the end of the ramp, turn west toward Jonesborough taking State Route 81/107 west for 6.5 miles; stay on Rt. 107 by turning left and continuing for 16 more miles until you reach Route 351, turn left and travel for 4.5 miles, then take another left onto Route 350 (Greystone Road). Continue on for 3.8 miles and then turn right onto Shelton Mission Road. After 1.3 miles, turn right into the large gravel parking area for Margarette Falls, Phillips Hollow Trail and Bullen Hollow Trail (watch your odometer, the parking lot is easy to pass because the sign for it faces the other direction!).
After parking, walk the gravel road for 1/2 mile to another clearing. From here, take the trail to your right and almost immediately you'll come to another fork, go left. Follow the trail for approximately 0.7 more miles to the falls (it seems much farther!). Both Bill Fuller and Wendell Dingus describe two more waterfalls above Margarette, click here and here for more.
Update 8/31/08: Click here to read the account of a young hiker who was seriously injured when he slipped and fell 40' while attempting to climb Margarette -- in all, it took a team of 80 volunteers to rescue him.
Update 4/17/12: They've rerouted the trail and built a bridge, which changed this hike significantly. It's still a lovely hike, but to be honest, it's not quite the same. While the trail still follows the creek, it has been moved up the sides of the surrounding hills for much of the hike. The good news is that there is now only one creek crossing. Also, evidence of the terrible storms that blew through this area two years ago can still be seen with all the trees that were blown down. Still recommend the hike - the falls are gorgeous!