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2.
This is the name given to describe a small town with high unemployment. These towns are said to be very common in Wales, but are also found in Ireland, and Scotland where education is very limited.
Also a name given to a town that has a small population.
Steve: Since I moved here from the city I am begining to see that everyone is stupid, there are no jobs, and guys are marrying their own sisters, whats that all about?
Colin: This place is backwards, these people don't know any different. This is a "One Horse Town".
Steve:, Yeah, you are right, but the problem is everyone thinks they are the jockey.
by Paul Fleming July 19, 2006
 
1.
a small or insignificant town
Lets leave this one horse town in the dust.
by The Return of Light Joker November 20, 2007