St John's Street, which runs across the River Severn, was the site of a dramatic collision on Tuesday night, which caused a car to smash into a house on the road.
Now, residents Andrew Britain and his partner Katherine Louise McEvilly are calling for something to be done "before someone loses their life".
48-year-old Andrew said: "What happened here on Tuesday night was an accident waiting to happen. St John's is not actually a street, it's a motorway from Monday to Friday, used by articulated lorries, tractors, buses, coaches, and motorbikes.
"Drivers exceed the speed limit, with tractors zooming down that 'motorway' without trailers. And on Friday nights, it becomes a race track, where not one but three to four racers speed by.
"I'm surprised you can't see the tyre tracks there. They start at The Falcon and do elevenses or pair up for drag races, between 1.30 and 4 in the morning. This is the true St John's Street."
Addressing the car smash, Andrew said: "I'm so grateful that nobody was on the footpath. It's the busiest footpath in Low Town. If it had happened in school hours it could have been much worse."
The 48-year-old is also concerned at the number of vehicles which park on the pavement, raising the likelihood of an accident for pedestrians.
"Delivery vehicles always park on the footpath," he said, "meaning there's no room on other side of footpath for pedestrians anywhere.
"There's no room for a push chair let alone one or two pedestrians. I have actually seen people go off the footpath with push chairs and onto the actual road because there's no room."
Andrew, who uses crutches, also says that he has "no chance" of crossing the road, and claims it takes him up to 20 minutes to cross from one side to the other.
"I'm so grateful no one lost their life," Andrew said. "The High Town isn't aware of what's happening here. Something needs to be done now before someone loses their life."