It was laid out in 1784 by David Gerrard, son of Baptist minister John Gerrard (for whom it was named in 1787, the year of his death). It served as the site of the Mill Creek Baptist Church, the first Baptist church west of the Blue Ridge Mountains and member of the Ketocton Association. Gerrardstown was designated as a National Historic District on the National Register of Historic Places in 1991. Many of the village's original buildings from the 18th and 19th centuries remain. According to the 2000 census, the Gerrardstown community has a population of 3,565.