Hot Springs is considered a breakdown by most fiddlers that I’ve talked to, even though the verses are 16 bars instead of 8, and it follows a chord pattern almost identical to I Don’t Love Nobody (when you play it in C and play the A minor part.)
Regardless of whether you consider it a breakdown or a rag, I think it’s a really cool tune, and it’s fun to play. I do have a tendency toward liking flat keys, especially when they have a B Part in a different key than the A Part. (Hot Springs has the A Part in F, and the B Part in D minor.) I first heard this tune on an Orville Burns Jam Session recording. I really do like a lot of the tunes Orville played, and how he played them.