dtownjbrown said:No, I never did get an answer :(
Here's a tentative answer: that's a water issue.
Either there's something wrong with the watering schedule or the soil tends to get waterlogged. Watering unbalances tend to look very similar whatever there is too much or too little water: generally it's the latter because many gardening websites don't take into account nectarines, like other Prunaceae, require more and more water as they mature.
Another possible issue is abiotic (not caused by a pest or a pathogen) damage to the the bottom of the trunk. This is usually brought about by one of two: either the trunk is damaged while mowing the lawn or mulch is in direct contact with the bark and it's causing it to rot away.
Both issues are easily solved: a collar around the trunk (a piece of plastic pipe cut in half and taped together will do) will work in the former case and getting rid of mulch will work in the latter.