I think it will - if you take further steps to protect it. Put a wire cage around it to protect it from deer or spray it with deterrent. It will not fare well if they continue to munch on it, stealing it's energy. Also, make sure it has some light mulch around the base to protect it from hot weather; even with adequate rain, mulch in Georgia in important to help keep the roots cool.

Thanks, esh_ga. I really don't think the deer have touched it since March, but I could be wrong. Nevertheless, I'll have to protect it as you suggested. I do have mulch around it, but probably time to add some more. I'm glad you feel there's hope for my cranberry bush. :)

Incidentally, I had an American cranberry for years (before it got cut down by GA Power :() that always seemed fine, so I don't know why this one isn't behaving as well.