Also check the speedo cable inside the engine compartment, if the cable pulls right out of the fire wall the speedometer is the blame but don't tug to hard because it might be fine and you don't want to damage it, also check the transmission as dcrusupra said that is a good place to start. My speedo isnt working either, I have determined the speedometer it self is the fault, my speedo makes a very loud screeching sound when driving I think something pop-ed apart internally and I havent had the time to take the instrument panel apart to find out.
The speedo cable is on the passenger side of the tranny, and the cable runs up into the engine compartment and then over to the drivers side, over/behind the engine to go through the firewall.
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