Daryle, we're sure glad you found us!!!
You'll find the truest wrds said here are, "It all depends". The water being soaked up quickly could indeed be normal, but it depends.
What was the water content of your clay when the pond was built? Was your dam cored? It is rare that a pond basin can simply be excavated and hold water. If your clay was too dry or too wet when building the dam, compaction/sealing is simply not possible.
Can you give us more information on the soil conditions and what all was done to construct your pond? There are many good dirt movers in this nation, but that does not mean they can build a pond. Ponds take very specific conditions and methods to be sealed and become productive bodies of water.