Nothing discernible to do with Florida land speculation. It's a hobo-jailhouse version of "Going Down the Road Feeling Bad." Tom and Jimmie both knew a little about jailhouses and freight yards, much less of Florida land hornswoggles.

Way down in Florida on the hog, oh, babe,
Way down in Florida on the hog
Way down in Florida on the hog,
And I shan't be treated this a-way.

Remaining verses are just like this. Tom usually sings "Oh, baby" at the end of the first line but never on the repeats. There's some variance between verses as to whether Jimmie comes in on the second or third line with the high harmony.

Good girl, you done done me wrong

Way down in jail on my knees

Feed me on cornbread and peas

Thought I heard that lovin' Frisco blow

Blowed like it never blowed befo'

Goin' back to sweet old Birmingham

[2 choruses of guitar]

Way down in Florida on the hog

Good one, you done done me wrong

Way down in jail on my knees

Feed me on cornbread and peas

Recorded by Darby & Tarlton for Columbia in Atlanta, 9 April 1927 (their first recording). Label calls it "On a hog," though to my ear it sounds like Tom is saying "on the hog," a hobo term for riding the rails. Easier to hear when the verse is repeated, after the guitar parts.