1941-54 Chevy 1/2 ton trucks use a Torque tube drive line.
3/4 ton and up are open.
The torque tube and the attached cast carrier housing probably is a 1947 torque tube.
The axle housing might be a GMC or someone put GMC brake cylinders on a Chevy axle.
This picture of your Torque tube makes me think its been tampered with.
It has 2 different size tube dimensions.
But then again I've never seen a 47 Torque tube.
The ones I have seen are usually one dimension, then tapers down to accept the ball housing.
One thing that stands out is the ball housing looks like it is barely slid onto the end of the Torque tube.
That means the rear yoke might not be slid far enough onto the propeller shaft splines.
The rear yoke might be just catching the end of the propeller shaft. Not Good.
Ilustration Scroll down. and
HERE Chevy 1/2 ton Torque tube length:
1947, 62 1/2"
1948-54, 60 1/8"
Parts Identification by ChevroLEE Some real good Data.
1929 - 1954 Master Parts and Accessories Catalog, Group Number 5.504 1929 - 1957 Chevrolet Master Parts & Accessories Catalog, Illustration How to measure Torque tube Your hunch is probably correct.
The rear axle leaf springs are flipped.
The article below kinda pertains to your situation.
1947-1954 Rear Spring Alignment If you have a stock 1954 3 or 4 speed tranny they both use the same length Torque tube.
They are relatively easy to find.
But the 1948-53 axle ring and pinion has a 4.11 gear ratio and the 1954 axle has a 3.90 gear ratio.