critters!
2 part answer....you don't say if the speed display lights up or if you get a speed reading when you do a finger twirl of the speed paddle wheel, but thats place one to look. If you do get lights and action, then how long has it been since your boat was hauled or the bottom scrubbed? Was there marine growth<critters> on the paddle wheel when you pulled it out? If so then there are probably worms, etc growing all around your speed transducer, interferring with the water flow. Regular bottom paint isn't good for the plastic on these things<or depthsounder plastic either>, and they often don't get painted with the special antifouling paint for plastics. Another problem I have seen is not inserting the transducer far enough when you put it back into the thruhull. Got to push a bit and make sure that baby is in far enough to do its job. Part two...There are at least a couple of companies that make depth transducers that can go through a hull, or that have explainations on how to set a transducer up for that. What they do is use something like mineral oil to help couple the transducer to the hull and conduct the sound waves from the inside. Do a Google.