My fiancee and I have been on a number of "ghost walks", tours, etc. We are, first and foremost skeptics, but also have a healthy interest in the unexplainable. When we saw the ghost walk advertised, we had a free evening and decided to check it out.
1. Cost: This tour costs $20. Given what the tour includes, it's a bit steep, but it will give you an opportunity to walk about a mile while hearing about the town.
2. Tour Guide: I can't remember our guide's name, sorry. She was friendly, enthusiastic, knew her script well, and was very animated.
3. The Script: The tour guide talks about a great deal of Gatlinburg history, some tragedy, and town legends. I can't speak to the validity of the stories she told. Some sounded a bit over done, but others plausible. She did talk about a crime that took place many years ago. While parts of that story may be fictionalized, the crime did happen.
4. Walking Tour: The tour is about 90 minutes long. You cover approximately 1 mile. Most of the areas you walk are paved. There are inclines and stairs. We were not impressed with the the fact that much of the walk takes place in alley ways. In fact, we overheard another tour attendee sarcastically say "What a great tour of dirty alleys and garbage dumpsters!" You do see a lot of them. You are also kept far from some of the "haunted locations" to the point that, if they are legitimate, you still won't get a picture of anything interesting. At one point in the tour you are taken to a rather large church. Be careful - you will be instructed to take pictures of the windows because a "face" has been photographed there in the past. Upon further investigation, we found that many, if not all, of these "faces" are actually reflections of or pictures of religious figures and/or paintings inside of the rooms that are being photographed. The tour guide will tell you that these are "the ghost" inside the church. Simply be cautious and question any result you may get on your camera. We did photograph what is commonly called an "orb" at the first stop on the tour. We use a high quality, professional camera. I took a series of photographs in quick succession. The first two showed nothing, the second two showed the "orb" with slight movement, the following photographs showed nothing. Make of this what you will. The remainder of the tour - nothing, at least nothing "paranormal."
For a ghost walk, this one provides entertaining stories and a bit of exercise. You can judge the ghostly appearances for yourself. This walk is more for those that are interested in hearing some folk lore with the slight chance of catching something other-worldly. A quick search on your computer or phone for haunted locations may provide a better chance if you're looking for an encounter.