Chances are the winter won't get cold enough to freeze the water down to 48", especially if you have any movement in the water at all (bubbler, pump running, etc). And the whole pond doesn't need to be that deep, only one section of it.
You could probably get away with digging one small area down to 48" and sloping the rest of the pond up from there to the edges. Then just make sure you either leave an air stone, water pump, or surface pond heater on all winter to keep an air hole open for gas exchange and to keep the water from freezing completely.
Our frost line in Ky is 36" (or 30", don't remember which), but only the top 2-3" of my pond froze this past winter, and we had a week or two straight of temps in the 5-10F range. I just kept my pond pump/waterfall running all winter and it was fine.
You could probably get away with digging one small area down to 48" and sloping the rest of the pond up from there to the edges. Then just make sure you either leave an air stone, water pump, or surface pond heater on all winter to keep an air hole open for gas exchange and to keep the water from freezing completely.
Our frost line in Ky is 36" (or 30", don't remember which), but only the top 2-3" of my pond froze this past winter, and we had a week or two straight of temps in the 5-10F range. I just kept my pond pump/waterfall running all winter and it was fine.