Most of the southeast is in a major drought that has been ongoing for a couple of years. The major lakes which are used as water sources are many feet down from their full pool levels, as well as rivers and underground springs flow rates are significantly lower than expected. For a good graph of how Lake Lanier's pool levels have fluctuated over the year go to
http://water.sam.usace.army.mil/lanfc.htmHow long will it take to get out of this drought? Honestly, no one knows. There have been previous droughts will similar dire warnings that it would take 10 years to fill Lake Lanier. One good winter's rainfall and, bingo, Lanier was full. A small hurricane or tropical storm would go a long ways towards filling the lakes, but contrary to predictions this has been a quiet year for cyclones.
The state and the different localities have been imposing water restrictions the last couple of years based on information from the EPD. North Georgia is under a level 4 drought response plan and central and south Georgia is under level 2 restrictions. The restrictions start off light, and as conditions worsened, become much tougher. Most of Georgia has been under some sort of watering restrictions (use of outdoor water mainly) for over a year. Started off with odd / even watering schedules and progressed to a ban on outdoor watering. Now the restrictions are beginning to be put in place that impact commercial businesses that use large amounts of water. You used to have a 30 day exemption on watering new professionally installed landscaping. That exemption is now resinded. Car washes are exempt because they recycle most of their water, but individual's washing of cars is banned.
http://www.gaepd.org/Documents/outdoorwater.html for more information.