Melt 2 tablespoons butter in a 9 - inch cast - iron skillet. Spread brown sugar evenly over butter, and arrange apple rings on top of sugar. Place a cherry half in the center of each apple ring. Set aside.
Cream 1/2 cup butter and honey, beating until smooth. Add egg; mix well.
Dissolve soda in buttermilk. Combine flour, baking powder, and pumpkin pie spice; add to creamed mixture alternately with buttermilk mixture, beginning and ending with flour mixture. Beat well after each addition.
Spoon batter evenly over apple rings in skillet. Bake at 350° for 45 minutes or until a wooden pick inserted in center comes out clean. Cool 5 minutes, and carefully invert cake onto serving plate. Serve warm with whipped cream, if desired.