When the turning statue between bowerstone and the hero guild says its is pointing to greatwood i have been told a hidden chest appears, if this is true
The chest is in The Tavern cellar in bowerstone south. It is in a little trapdoor similar to the one at the Grey House. Unless you are early in the game though, i wouldn't bother getting it. All it has is a leather chest piece.
You can find that information [url="http://www.gamebanshee.com/fable/walkthrough/mapgreatwoodnorth.php"]here[/url] (see #16).
SWC
Sir Edmund:"Should you obey the lord who asks you to put a village of innocents to the torch? Is that chivalrous? Is it noble?" Me:"It's a great way to get promoted, I know that much."