The COVID-19 pandemic caused significant training disruptions during the 2020–2021 season, due to lockdowns, quarantines, and strict adherence to the pandemic protocols. The main purpose of this study was to determine how the pandemic training restrictions affected training volume and performance in one collegiate swim team. Cumulative training volume data across a 28-week season were compared between a pandemic (2020–2021) versus non-pandemic (2019–2020) season. The swimmers were categorized into three groups (sprinters, mid-distance, and long-distance) based on their training group. The performance times of 25 swimmers who competed in the regional championships, during both the non-pandemic and pandemic year, were compared via one-way ANOVA. Twenty-six male and 22 female swimmers commenced the 2020–2021 (pandemic) season, with 23% of the swimmers voluntarily opting out. Three COVID-19 cases were confirmed (2%) by the medical staff, with no long-term effects. Significant reductions in the average swim volume were verified in sprinters (32,867 ± 10,135 vs. 14,800 ± 7995 yards; p < 0.001), mid-distance (26,457 ± 10,692 vs. 17,054 ± 9.923 yards; p < 0.001), and long-distance (37,600 ± 14,430 vs. 22,254 ± 14,418 yards; p < 0.001) swimmers (non-pandemic vs. pandemic season, respectively). In the regional performance analyses, the sprinters swam faster (n = 8; −0.5 ± 0.6 s), while the mid-distance (n = 10; 0.17 ± 2.1 s) and long-distance (n = 7; 6.0 ± 4.9 s) swimmers swam slower (F = 11.76; p = 0.0003; r2 = 0.52). Thus, the pandemic caused significant reductions in swim training volume, with sprinters performing better and long-distance swimmers performing worse at the regional championships.