The likely influence on this song was Dylan's 1967 motorcycle accident, which severely limited his mobility. The song was recorded in the basement of a house where members of The Band lived, and played with Dylan while he experimented with new sounds. The Basement Tapes album was not officially released until 1975, but the songs were circulated and this one drew the attention of The Byrds, who released it on their 1968 album Sweetheart of the Rodeo.
Suggestion credit: Tom - Marble Falls, AR
The Byrds released "You Ain't Going Nowhere" as the first single off the album peaking at #45 in the US and #74 in the UK.