This poem was really pretty, and in some ways reminded me of my favourite Robert Frost poem, "Nothing Gold Can Stay". Both evoke both a sense of joy and sadness at the same time, and the duality of the feelings presented in the poem are quite intriguing. I love your idea of the spinning wheel and time, and applaud your vivid use of imagery.
The only critique I would give is watch out for punctuation errors. In the line
it will take it's last nap
the punctuation is wrong and it is a bit distracting. Otherwise I would say wonderful job; you made me not only see what you were describing, but feel it as well.