Does anyone hear the sound of a uke or tenor guitar in the Hillbillie's recording?
North Georgia mountain groups often used tenor banjo in addition to fiddle. The banjo may have been tuned plectrum style CGBD like a five-string without the fifth string.

The tune uses the gDBCD on the banjo but the guitar player may be playing on open G chord with a major third(B) along with the suspended C on the banjo. There is a definite flatted 3rd (Bb) in the banjo. This gives the flavor of blues or African-American scale patterns.

Much of Appalachian music emanates from the African-American culture via the Minstrel Show and crossover of black blues artists to the Southern mountains. The North Carolina Chocolate Drops show a significant and elegant relationship between the two musical cultures