This picture in GP says it was posted across the river. This is a picture of 1st street, not 2nd street. Across the street on the bank of the river is Fort Nashburogh.

'Long, dagger-like icicles were hanging from the bluff on the frigid Christmas Eve of 1779, when James Robertson and his party arrived to form the first permanent settlement at Nashville.

They built Fort Nashborough here because of the "bold spring which dashed down the precipice." (so said an early historian)

the spring was located at the foot of Spring Street which we now call Church Street, and there was an arrangment whereby the water could be channeled inside the fort in case of siege by Indians.

The early settlers used tis spring for many years even after the stockaded fort was no longer needed. William Boyd …owned the spring in 1809. He erected a building over it for the purpose of distilling whisky. Samuel Stacked operated a combination sawmill an gristmill at the site in 1823'. …The spring was destroyed by Union troops inadvertently by blasting during the civil war.

https://www.theclio.com/entry/98409