According to the belief of the local people; after the inundation of the Myndos ancient city, Greeks inhabited in Old Karakaya; today it has 35 digits. Houses are made by soil mortared rubble stone because of conditions the period and lime mortared rubble stone is used on next period.
After the 1932 Greeks – Turks population exchange, Turkish nomads immigrated to here and settled in Old Karakaya. No chance to live in coastal regions because of the Greek attack, they protected their vineyards and orchards by the sea level, down to irrigate their crops and mow down with every day and returning to their home before dark.
In famine period, noone has shoes in the village, no wheat, no rice, oil… In those days, food facilities were quite limited with windmills and "bazlama" which is a kind of tortilla, made from milled wheat had big value. When there is no wind, they stayed awake all the night sometimes 1 week. After a while, some made shoes from carpet pieces, some from studded hoof.
In the 1950s, water removing by hand has given way to the machine thanks to Marshall Aid and thus begins the tangerine production with largest gain. Harbor smuggling was also common and the region was developed and olive oil factories established.
Because of getting high-income level from sponge trade, people developed by the time and started to trade tangerine to Istanbul and Izmir with big ships. In itself, which is usually based on exchange and cooperation systems changed, when starting to take immigration from outside the region. Since the 1990s, Gumusluk is one of Bodrum's last stronghold.