There is only one access point by boat. It is very limited access wise due to all the land being owned by Brookfield (bought from Alcoa). Only up at the top end where the boat ramp was/is is it accessible. From the banks around it, no.
The worst thing about Calderwood is getting there.
Well, I am moving to Townsend in September. It is coming up fast. Maybe I can get to know some of the locals who might give me permission to fish after I am a resident. I am retired so I plan on fishing as many days per week as I can.
Without a boat, fishing on area lakes will be tough. Just about all local lakes (TVA) the land is owned privately. There are a few exceptions where there are public access areas for fishing, but they're few and far between and tend to get crowded, some with some not so nice "clientele" if you get my drift.
As for rivers, you tend to have more options especially those on or in public parks/national forests.
There are also access areas on some tailwaters such as the Clinch. The Holston is pretty difficult as is the French Broad.
Fly fishing for trout is pretty much relegated to the GSMNP, North and South Cherokee National Forests and several tailwaters streams such as the Clinch and Holston. Most area lakes are warm water fisheries.
Get a copy of the Tennessee Gazetter. They have areas you can look up and find in it.
The guys at Little River Outfitters in Townsend can help you find whatever type of water and species you want to try. LRO is the nicest fly shop in area including surrounding cities. They also have their own quite large website and forum. Very nice people who don't mind sharing information although you might have to message the shop directly to get exact locations. Sometimes it's not as easy to get that kind of info from the forum, mostly to protect some of the streams in the national park.