in 1887, Preston purchased thirty-seven acres of land near “Buttermilk Ridge” at Elm Hill Road and Spence Lane on which he established the Greenwood Cemetery in 1888.  Preston, along with three other gentlemen, had planned to purchase this land together for $30,000. Preston was the only one who followed through on the transaction. His purpose was to mainly provide first class burial space that would be available at minimal cost for the African American population of Nashville, in particular, and for the surrounding communities.  In his Will he deeded the cemetery to the National Christian Missionary Convention of the Christian Church (Disciples of Christ), it remains, yet today, a non-profit establishment. 

1888 seemed to have been a splendid year for Preston. He also embarked upon the undertaking business and met with unbound success. He founded Taylor Funeral Company at 449 Cherry Street (now 4th Avenue.) 

The Taylor family lived on the second floor of the two-story brick structure until 1906.  Preston stood at the helm of his profession. He then established a casket factory and built his own caskets for his clients and others.  He left the Gay Street Church in 1888 and in 1891 established Lea Avenue Christian Church.  The newly organized congregation met in a doctor’s office building on Spruce Street (now 8th Avenue). In 1903, under Preston’s direction and personal effort, a new imposing edifice was built on Lea Avenue. During the next forty years Preston pastured the Lea Avenue Church while he successfully managed his business. 

Upon the loss of three black firemen in a horrendous fire on January 2, 1892, the bodies were placed in the care of Taylor and company. On January 6, an impressive funeral service was held at the State Capitol. Taylor constructed an ingenious carriage, which allowed the bodies of the three men to rest side-by-side. This was the first and last time that blacks were allowed to have a funeral in the Capitol rotunda.