Quote Originally Posted by Balmas View Post
Well, Granny Smith says that she helped to found Ponyville. Twilight Sparkle says that Ponyville was founded by earth ponies around 300 years ago. It's possible that Granny Smith is merely demented, though.
Twilight doesn't give a specific time period. She says "hundreds of years" instead.

I choose to conclude Twi was engaging in a bit of hyperbole... and a little bit of inadvertently retconning season 1. Kinda like how clearly Nitemare Night and Shining/Cadance were invented for Season 2.