During the 1970s–2000s, the village of Greenwood expanded in population as numerous other air force bases in eastern Canada closed and their aircraft and personnel consolidated at CFB Greenwood. Much of the housing in the heart of Greenwood is for the military families stationed at the base, and are referred to as PMQs. Most of the non-military housing for the village is located on the outskirts.
Today, the village and airfield’s combined population numbers approximately 5,400. The village hosts numerous services and is also the location of the Greenwood Mall, the largest shopping mall in the Annapolis Valley. In 2015 it was renovated to accommodate a new department store, which has reinvigorated the shopping centre.