Cressy gets its name from the Cressy Company, which was formed in England to run large agricultural farms and grazing enterprises.

It's a rural township on the Norfolk Plains, below the Great Western Tiers, 36 kms from Launceston, and 21 kms off the Midlands Highway

The Cressy Hotel had been opened in 1845 and the town came into existence around 1855 as a centre for the richest wheat growing district in Tasmania.

Cressy is also renowned for trout fishing in the nearby Brumby's Creek, and the Macquarie and Liffey Rivers.

Today many of the original homesteads and farm buildings exist around the tiny township and the area is still noted as an important producer of oats, barley, peas and beans.

Tasmania's Premier Fly Fishing Guides at Cressy operate guided tours to Tasmania’s lakes and rivers where you can enjoy sight fishing for wild brown trout that can take you to the backing in clear, shallow lagoons and lakes.

At the 2001 census, Cressy had a population of 643.