As I understand it, it seems to be written in the context of him being away from home on tour living in a hotel or B&B in a city somewhere lonely and missing his wife.

This would make the second line correct.

The last verse is related to the highland clearances where many were evicted from their homes and transported to America and the like. It seem to be expressing a knowing of how they felt.

Any way that's just my opinion, I'm sure there are a few more! If you really want to know you could ask the man himself here:

http://www.dougiemaclean.com/index.php?option=com_contact&view=contact&id=1&Itemid=66

CC