I grew up in NC and I have seen this light! It was a rite of passage for us in High School, to go out on a dark night and stand on these tracks. Incidently, the school was Cape Fear High School..
Fayetteville - Railroad tracks - There is this ghost that has been there since 1700's, .its called the Vander Light. Its a ghost that got killed when was on a train and he went out on the train to smoke a cigarette and the train slammed on brakes and he fell off and it cut his head off and ever since that every time you go down to the railroad tracks there is a lantern and its a ghost looking for his head and if you walk up the tracks and try to get close to it will disappear and when you turn around its behind you again.
This, however, is BS. My family has been buried in this cemetary since 1760, and no minister flipped out and killed the congregation. It's the oldest church in the state and is located on the bluffs of the Cape Fear river. It burned once in the 1840's, and was used as a field hospital in the Civil War skirmishes that led up to the battle of Bentonville. If it's haunted (of which I have little doubt), it's because it's had dead people buried there for going on 300 years.
(It's also actually located in Wade, NC, not Dunn, which is another 20 miles to the North).
Dunn - Old Bluff Church - In about the 1820's on a Halloween day this church was having sermon and the preacher flipped out and killed every one in there and now if you go to the church and you read the big stone memorial and walk up to the doors and read the sign and do what it tells you to than you will see a man holding a lantern and he will wave you on.
Here are the monuments on the Church grounds:
REV. JAMES CAMPBELL MONUMENT: Rev. JAMES CAMPBELL, a native of Campbelltown, Argyleshire, Scotland, rests near this spot. He died in 1780, in the seventy-fifth year of his age and the fiftieth of his ministry. (East face)
He was a wise and pure Patriot, a faithful defender of the principles of the PRESBYTERIAN CHURCH, a zealous Preacher of the Gospel, a devout and humble Christian. The Churches which he founded, and the Presbytery in the bounds of which he labored Twenty two years, have erected this MONUMENT to honor his name and perpetuate his MEMORY. (North face)
Bluff, Long-Street, and Barbecue Churches were organized by Rev. JAMES CAMPBELL, October 18th, 1758. Hector & Duncan McNeill, Farquard Campbell, and Alexander McAlister, were the earliest Elders of the Bluff Church. (West face)
Malcom Smith, Duncan Ray, and Archibald McKay, were the earliest Elders of Long-Street Church. and Gilbert Clark, Daniel Cameron, and Archibald Buie, were the earliest Elders of Barbecue Church. (South face)
B. MEMORIAL MONUMENT:
DEDICATED TO THE MEMORY OF THE PASTORS OF BLUFF PRESBYTERIAN CHURCH THE REVERENDS:
JAMES CAMPBELL 1758 - 1776
JOHN MacLEOD 1770 - 1778
DUGALD CRAWFORD 1783 - 1793
ANGUS McDIARMID 1793 - 1803
MURDOCK MURPHY 1803 - 1810
ALLAN McDOUGALD 1810 - 1844
EVANDER McNAIR 1844 - 1855
SIMEON COLTON ca. 1850
DUNCAN D. McBRYDE 1855 - 1890
JOSEPH B. MACK 1890 - 1891
GEORGE A. HOUGH 1891 - 1892
ANDREW M. HASSELL 1893 - 1899
JAMES STEDMAN BLACK 1899 - 1904
LETCHER SMITH 1904 - 1906
ANGUS R. McQUEEN 1907 - 1920 (Reverse)
IN MEMORY OF WILLIAMSON WHITEHEAD FULLER AUGUST 28, 1858 - AUGUST 23, 1934 Whose generous gift in 1929 made possible the restoration of this church edifice and assured a hallowed burying ground for generations of descendants of church members.
WILLIAM ANDERSON BROWN NOVEMBER 10, 1905 - MARCH 12, 1992 Whose pastoral leadership resulted in the adoption of a resolution by Bluff con- gregation on Sept. 1, 1963 establishing a trust fund for the maintenance of buildings, grounds, and cemetery at Old Bluff Presbyterian Church.
Here's a photo, which does not do justice to how spooky this place is at night: