When you harvest the wood from this tree, it kills the tree.
The tree will then become a stump.
You will have to dig up the stump and plant a new tree in order to have more wood to harvest.
This tree produces not just wood, but also Buckets of Maple Syrup every 24 hours in game. 
It functions similar to the Soybean plant from the Eco Lifestyle EP.
The Buckets of Maple Syrup can then be bottled into the nice maple leaf shaped bottles
for use in recipes.
If you wish to have a tree for syrup, then you shouldn't collect the wood from that tree.
The maple leaf shaped bottle of maple syrup was made by my friend SrslySims.
It has a custom  buff when you drink it that only happens sometimes.
I believe there's a 50/50 chance at getting the custom buff.