 Following World War II, however, as farm prices increased and ranching prospered, the economy grew, and the population, which had declined to 803 by 1937, increased to 1,037 by the mid-1950s.During the next three decades Valley Mills maintained its position as a leading retail market and shipping point for Bosque and McLennan counties.The town was hit by an F-5 tornado on May 6, 1973, nearly 20 years after the infamous 1953 Waco Tornado, and despite its F-5 rating, there were no deaths in the Valley Mills tornado.