John L. Rainey, owner of large tracts of land on which Sharon was established, conveyed land to the Presbyterian church in 1889 and 1898, the Methodists in 1897, and the Methodist Episcopal Zion church in 1904. The First National Bank, established here in 1909, was the only bank in western York County to survive the depression. The Hill Banking and Mercantile Company was founded prior to 1915.
The town of Sharon grew up around and took its name from Sharon Associate Reformed Presbyterian Church, which existed here in 1800. When the Charleston, Cincinnati, and Chicago Railroad came through in the 1880s, John L. Rainey donated land for the station. The town was incorporated by the S.C. General Assembly in 1889.