Lower gums and teeth hurt a bit. (noticeable but slight pain).Pain goes away when I sleep but reemerges. Could this be serious?

Yes. Pain is a warning from your body that there is a problem you need to fix. If both your gums and teeth are hurting, it may be a sign of gum disease, clenching/grinding, or infection. Any of these pose risks, some of which are deathly serious. Go see a dentist, get your pain diagnosed, and then treat the underlying problem.
Yes. You should be evaluated for periodontal or gum disease issues. The dentist may also want to check your bite as well.
Gingival recession. Localized gingival recession will present as a site of which the gum is receding and exposes the root of the tooth involved. Food collection at the site causes irritation and the tooth involved become hypersensitive and in many case, pain. Treatment usually included cleaning folllow by desensitizing agent (potassium oxalate and/or Fluoride treatment), along with adjusting the occlusion.