Smithville has an historic downtown district featuring shops and restaurants. Many of the businesses are located right on Main Street. The town has several museums, including the Smithville Heritage House and Museum and the Railroad Museum and Depot.
Smithville is home to the Hyatt Regency Lost Pines Resort and Spa, which has more than 400 acres of luxury accommodations. The town also has bed and breakfasts and cabin rentals.
Smithville sits on the Colorado River, where visitors can boat, fish and swim. Nearby Buescher and Bastrop state parks offer hiking and cycling trails. Smithville also contains a skateboard park, tennis courts and a disc golf course.