Before getting started, preheat the oven to 375°F.
Mix the biscuit mix, cinnamon, and nutmeg together in a medium mixing bowl or in the bowl of a stand mixer.
Add the milk to the biscuit mix and mix together.
Melt butter and mix it into the mixture, as well.
Then pour the crust into an un-greased cast iron skillet or 8x8 baking dish.
In a separate mixing bowl, mix together the peaches, sugar and brown sugar.
Spoon the peach mixture over the biscuit mixture in the pan.
Sprinkle with pecans or walnuts, if desired.
Bake at 375°F for about 45 minutes to 1 hour, or until golden brown.
Remove from the oven and cool before serving.
Serve with a dollop of whipped cream or a generous helping of vanilla ice cream.