Collinwood is a city in Wayne County, Tennessee, United States. The population was 982 at the 2010 census, down from 1,024 in 2000. C…Collinwood is a city in Wayne County, Tennessee, United States. The population was 982 at the 2010 census, down from 1,024 in 2000. Collinwood was established in 1913 as a stop on the Tennessee Western Railroad, a rail line constructed to serve the area iron industry. The city was named for W.W. Collins, president of the Collinwood Land Company, which platted the city. While the railroad, which intersected the L&N system at Iron City, was originally to extend northward to Hohenwald, plans for extension beyond Collinwood never materialized, and the city became the railroad's western terminus.