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Savona was first settled in 1793 when Thomas Corbitt built a sawmill and a tavern (inn) near the mouth of Mud Creek in anticipation of new settlers who bought land from the Pulteney Estate. The early settlement was referred to as "Tommy Corbitt's at the mough of Mud Creek" and quickly shortened to Mud Creek. As the tiny community grew in population, people felt the need for a more savory name, and at the suggestion of Dr. Marsena Terry, adopted the name of a city in Italy. On October 21, 1850 the village and post office became Savona. It was officially incorporated as a village in 1883 and has been governed by a board of trustees and president (now Mayor) since that time.
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