Factual error: vWhile on the fishing boat, the flag flown has 50 stars, while the movie is set in 1941. The US didn't have 50 states, and thus that flag, until 1959. (00:30:08)
Factual error: Lynyrd Skynyrd's plane crashed in the early evening in October 1977. Injured crash survivor Artimus Pyle, tended to the severely injured people and later was able to walk through the swamp and the woods in the dark to get help, but in the movie when the plane crashes and Pyle's search for help it's a bright sunny day.
Continuity mistake: The shape, amount, length and width of the white down "Dream Alliance's" face varied, as did the height of his white "boots", indicating that the same foal/horse was not used throughout the movie. The white on the foal's and adult Dream Alliance's face and lower legs looked painted on at times. Before Dream's first race, black tape was used on his lower legs, apparently as an attempt to make a different horse's higher white boots less or not at all noticeable. (00:32:42 - 00:35:51)