The story with this ghost light is that a young man was racing on his motorcycle to meet his girlfriend and ask for her hand. It was raining and dark and this road is very hilly with a sharp curve at the end. A tractor was coming around the curve and saw the guy on the motorcycle coming and flashed his lights to warn him to stop. The young man could not stop in time and was killed instantly (some say decapitated).
Now, you can go to the top of the street where the tractor was and flash your lights. Soon, you will see a light coming towards you, appearing and disappearing as he crests the hills. Then, the light disappears a few hills from you.
This is on a country road with no traffic and it is so quiet out there it is scary. I have seen this dozens of times and even tried chasing the light to see if it was a hoax. You never hear any motor, you just see a light.