European settlement began on the peninsula in the mid-19th century, despite its poor potential for agricultural development. Attracted by the rich fisheries and lush forest, settlers found the land known then as the "Indian or Saugeen Peninsula" to be irresistible. In 1881, settlers built the first sawmill on the peninsula in Tobermory. In less than 20 years most of the valuable timber was gone and timber industry jobs declined. Fuelled by the waste left behind by the rapid logging and land clearances, intense forest fires sprang up around the peninsula in 1908, burning large swaths of land. By the mid-1920s formerly abundant forests of the peninsula were nearly barren. When the lamprey eel was accidentally introduced to the Great Lakes in 1932, the devastation on the fish supply made the peninsula a less attractive place to live. Many left when fish stocks were depleted. The peninsula underwent a steady decline in population until the 1970s. In the late 20th century, the peninsula started to attract a new kind of resident, the cottager. Today seasonal residents out-number permanent residents. The summer influx of tourists is so great that many attractions, parking, and infrastructure are overwhelmed by sheer numbers.