Tag Riding shot a 4-under-par 67 in Friday's second round to finish alone in fifth place at minus-9.
Hensby was quiet on the front nine with only one birdie at the par-4 fourth hole. He parred his next six holes until another birdie, this time at the 11th.
Hensby climbed into the top position with his play down the stretch. He tallied back-to-back birdies at 15 and 16 and closed his round with a birdie at the par-5 18th.
Hensby has yet to record a bogey since the 17th hole Thursday, which he played as his eighth hole.
'I haven't made any big mistakes yet, which has been the key,' said Hensby, an Australian. 'I played pretty solid all day but I wasn't getting it close enough to make any putts.'
McCallister collected three birdies on his front nine and added another at his 16th to fashion a round of 4-under-par 67.
'I played a good round of golf,' said McCallister, a five-time winner on the PGA Tour. 'I had a lot of good birdie putts today. You can flat out throw it at the hole out here.'
Austin mixed nine birdies and a single bogey on Friday for a round of 8-under 63, the lowest score in the second round.
'It is the first round in awhile that I've seen a lot of putts go in,' said Austin.
Brisky opened on the back nine at Crestview and bogeyed his fourth hole. He tallied five birdies over seven holes around the turn but dropped a shot at the par-4 fourth, his 13th. He finished with a 3-under 68 and is in good shape for a run at his second Nationwide Tour victory.
Brisky was coming off an amazing round on Thursday which included a hole-in- one and just 18 putts.
'My goal today was to not focus on yesterday,' said Brisky. 'Yesterday was one of those rounds you dream about. But you just have to put that behind you.'
Ted Purdy (67) and Ty Armstrong (66) share sixth place at 8-under-par 134.
Tyler Williamson will not have an opportunity to become the first player in Nationwide Tour history to successfully defend a title. He carded his second consecutive even-par round of 71 to miss the cut by two strokes.