In The Land of Waterfalls, Jim Bob Tinsley writes that Spice Cove Falls is 2 miles south of Boxcar Falls, between Long Branch and Spice Cove. It sounds like he’s saying the waterfall is on North Fork French Broad River, but there is no waterfall on that stretch. A small waterfall is on the unnamed stream flowing through Spice Cove. Perhaps Tinsley means that falls.
Trust me, it’s not worth the effort to see this falls. However, if you’re determined, here’s how. Follow the old road discussed in the Big Bearwallow Falls listing down to North Fork French Broad River. Wade the river if it’s safe. It’s never low enough to rockhop. If the water is up even a little, you shouldn’t try to cross. Once across, head upstream on river right. In a short distance, you’ll come to the creek at Spice Cove. Follow it upstream a short distance to the falls. When you get there, remember I told you it wasn’t worth it.
If you’ve come this far and want to see another waterfall that’s not worth the effort, continue following North Fork French Broad River upstream on river right. The next significant stream you’ll come to is Long Branch. Some small waterfalls are on it up to about the 2,600-foot elevation.
After the North Fork crossing, any further progress is strictly hard-core bushwhacking, despite what roads or trails you might see marked on the topo map.