There is only one water line going into the tank, off a T on the line between well and house. So it would appear that the pressure exerted on the water in the tank would push water back toward the well in addition to toward the house. I suppose a valve on the pump keeps the water from going back underground.

If this is true, could I install a spigot between pump and tank that would supply water at the same pressure as after the tank?

Yes. You are correct in assuming there is a check valve between the pump and the pressure tank which prevents water from flowing back down the well. The check valve is a pretty obvious device when you see it. As long as you stay between it and the tank, you can put in a spigott.

HEY DEAN - On the out going side ( the water line going to the house , find the water line out side well cover , ( I don't know what area of USA you live in) You can buy what is called ( bury hydrant ) 2! 3! 4! & 5! ) For a yard hydrent, it!s to use because it would have to freeze preety deep in the ground for it to freeze (IF IT IS INSTALLED RIGHT ) TO install a set of instructions on how to do it. Find water line outside of well house , dig a hole about 2! Round ,& what ever depth hydrent you get plus about 6" deep, Turn off water in well house , TURN BREAKER OFF TO HOT WATER TANK> Now cut water line, install a " T" in line,YOU want hyd. to be about 6" off bottom of hole Pour in gravel (About up to 3/4" size . Setchyd. In do rest of plumbing to hook up hyd. Have a helper to hold hyd. In place and up , take a steel fence post (4!to 6!) drive into ground right beside hyd. To just below top handle use 2 pipe clamps ,one near bottom ,one near top poure in rest of gravel ( I usely use two 5 gal buckets . At bottom of hyd. There is a small hole (CALLED WEEP HOLE) make sure it is covered good with gravel. When you turn the water off on the hyd. This is where the water drains out so it will not freeze in winter time finish filling hole with the dirt turn on water ( Don't FORGET TURN HOT WATER TANK BREAKER BACK ON) HOPE I HAVE HELPED LET ME KNOW <GOOD LUCK ;;

Leaving the hot water tank with both the inlet and outlet closed and the breaker or gas off , will also stress it as the water in it cools off and shrinks. Best to open a hot water tap anytime the main water valve is shut off.

Hey Labman, I forgot that Point, thanks for adding that in . F.B.E. ; Dean when you finish your plumbing project ( DO NOT TURN POWER ON <ON HOT WATER TANK< untillwater pressure is back up and you leave hot water faucet open until you have a good flow again use hot water faucet the farest from tank . The reason for this is that if you turn power back on the tank before refilling the tank the heating element (s), will blow use a 2! Bury hydrent F.B.E. ::::