The economy of the small village of Overhill is supported by the forestry trade primarily; being surrounded by the lush Bindbole Wood, this is a natural extension for the local hobbits. That is the purpose of the Overhill Yards: local hobbits drag lumber to the camp and engage in their forestry efforts.
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There is no quests or notable NPCs in Overhill Yards. It is simply an aesthetic extension to support the Overhill economy.