Midland began as a railroad town about 1913 with the arrival of rail service. The town was incorporated, as of 2000. Prior to Midland's becoming a railroad village, a community named Garmon existed in the area and appears on an 1864 map of North Carolina.

The Reed Gold Mine, site of the first discovery of gold in the United States, is located east of the Midland. The Reed Gold Mine is now an historic site under State management and is open to the public. Visitors to the mine can tour a museum with extensive information and displays on North Carolina gold mining, and can walk through several hundred feet of mine tunnels.