Hi John:
This disparity in growth, relative to your other two blue spruce, could be due to several factors, the most obvious include:
1) Genetics 2) Quality of planting stock and root system 3) Care of planting stock prior to planting 4) Micro-site variability
Yes, over-watering is bad for trees; however, so is under-watering your trees (especially conifers) during periods of summer drought and 100-degree days.