A few vacant lots will accommodate new home construction here and there, and residents speculate that a couple of large farms eventually may give way to another subdivision or two. Since the 1950s, Sleepy Hollow has grown around a vague equestrian theme and a collective determination to remain a small, quaint country village. On Sleepy Hollow Road, the Headless Horseman is one of three stables in the community.
Residents say it's common to see horse riders navigating the streets, even in newer subdivisions.
Housing development has been slow and methodical, first along Sycamore Lane and around the village's namesake farm on its namesake street. Later, prefabricated houses were built along Thorobred Road between Hillcrest and Bullfrog Lane. In the last 10 to 15 years, three new subdivisions have added another 400 to 500 homes to the community. On Randall Road, the land for Saddle Club Estates was annexed to the community in 1979. High-end real estate comes in the Bluff subdivision on Boncosky Road, just south of Surrey Ridge.