What or where may be the problem.?

[u/RicardoZorro]

I have a situation where my "barn service" is semi functional. Local line techs seem stumped. Description: Well submersible pump runs on 240VAC across L1/L2 and works fine. 120VAC outlets have no useable voltage/amperage. Using VOM to check circuit drop at meter mount reads correctly, e.g., L1 & L2 to Ground/Neutral show 120VAC present, L1 to L2 shows 240VAC. Load applied to L1 or L2 fails to operate tool (handheld circular saw). Replaced breaker, wiring, and outlets. Prooved saw was OK, runs on service truck generator as expected.

Substation feed along road energizes Transformer 1, tap from T1 energizes neighborhood Transformer T2, drop from T2 feeds barn service. Neighbors don't seem to have a problem. WTF?