Marcus - you are correct -that rifle is actually slightly thicker (when viewed from the side) at the entry thimble than it is under the lock mortice. They really took the undersides of the lock mortice area down thin - sometimes very flat looking - on a lot of these guns in this style. I would guess possibly the entry thimble was installed before they did their final shaping and inletting in the trigger/ triggerguard area in this case. Anyway, it sounds like it would look awkward, but in this case the architecture works and has a certain charm to it. Actually, the architecture on this rifle is one of my favorite examples of an East Tennessee rifle. There are literally hundreds out there, but a few just really grab you and stand out from the rest.
(BTW - scroll through the first 200 lots or so in that auction catalog - there were a lot of nice longrifles, including a lot of southern pieces, in that auction.)
Some southern rifles, like the Jacob Young "Woodfork" rifle, actually taper a bit as you move forward toward the entry thimble, then there is a very subtle flare in thickness as you get close to the entry pipe. You see this on a lot of Hershel's rifles too, as Jacob Young was a big influence on his work.
Some people assume that these features are just the result of saddle wear (which you do see on some rifles) but not so on these examples - the guns were built that way. In the case of the Carter Valley Rifle, it could simply be the result of the builder inletting the triggers and guard after he already had the entry thimble inlet and forend thickness there already determined, and decided to just go with it - no muss, no fuss - and blend it in by tapering the line out to the entry pipe. In the case of Jacob Young, it appears to be more pre-planned as an architectural element.