I keep a close eye on the water level too and it has dropped about 16″ from the normal high after the spring thaw this year, which I always see the about Mid May. This lake fluctuates all summer, but this summer it has not, it has just gone down. I was just at the lake association meeting and the army corps was there and there is a story that is very interesting on how they manage the damn. Learned a lot.
One thing for sure, even with the level low, the fish are still on the bottom!