Item on hold but no one has it checked out. Does the library actually have access to the ebook?
No worries--that erroneous status is just a result of the somewhat wonky interface between Overdrive and our own catalog. If you look at the title directly in Overdrive: http://ebooks.
you will see the correct status. Copy is checked out, and you will be receiving it as soon as it is returned.
I hope this allays your fears! Have a great Memorial Day weekend!