This behavior sound completely normal. Citrus produce many more flowers and small immature fruit than they can bring to maturity. It is not uncommon for a tree, especially a small young one, to drop the vast majority of its developing fruit. I wouldn't be surprised if a 2yr old tree (I'm assuming it is only about 3ft tall with a relatively small canopy) only held on to a handful of fruit.

Also, I would not use the fertilizer spikes, but rather a good standard citrus fertilizer or a controlled release (pellet) fertilizer and follow the application guidelines for your specific location (Since you say you are on the Gulf Coast, your state Ag. Extension program should have a flyer w/ the appropriate guidelines for your area) Here are a couple of examples:

LSU Extension
UF Extension

It's best if citrus don't produce for the first year anyway. They need to spend that first year developing a strong root system. I always pinch off any fruit that don't drop on any citrus that I plant. It's hard, but I'd rather have nothing the first year then let them go and produce as many as they want in the future.