In sandy ground a broken water line tends to bubble up quickly. East of Atlanta, the pipe usually sits in red clay backfill, and escaping water often follows the looser soil of the original trench or drains down rather than up. A leak can run for a whole billing cycle before a wet spot appears, if one ever does.
That's why the meter test matters more here than a walk around the yard. EPA's WaterSense program estimates that fixing easily corrected household leaks saves about 10 percent on water bills, and a buried service leak is rarely the easy kind. If the meter says water is leaving and the house is dry, trust the meter.