Tracey became interested in fitness and bodybuilding during high school. Tracey would buy copies of Muscle & Fitness and would see pictures of early bodybuilders such as Cory Everson, Tonya Knight, and Rachel McLish. These early pioneers of female bodybuilding inspired Tracey and she decided to pursue her dream of becoming a fitness competitor. She started training in her senior year of high school, but didn't become serious until college. She won her first contest as an amateur in 1997 at the Europa Fitness Championships. Tracey continued competing as an amateur until 2001 when she took second place at the NPC USA Championships thus earning her Pro Card.
Aside from competing as an IFBB professional, Tracey also trains aspiring athletes for figure and fitness competition. She sponsors her own NPC contest (Tracey Greenwood Fitness and Figure Classic) and is a judge at the NPC state level. She earned a B.S. in Exercise Physiology from the University of Delaware in 1991 and a M.S. in Health Education from Saint Joseph's University in 1996. She possesses a Ph. D in Exercise Physiology at Temple University. She also volunteers time for the animal rescue Adopt a Boxer Rescue.