180507-1107 EDT
Dpeck2:
I would agree with augie47.
I assume you are using a high input impedance meter, and that is fine.
You need to work back further toward the source of power.
First, at your motor location with the contactor closed measure:
1. The working hot phase to a screwdriver in the earth nearby. Should be near the 120 value.
2. Same for the other phase. Probably reads 120 V from voltage thru the motor.
3. Now from neutral to the same earth connection.
4. Then from from EGC to the earth.
5. You have already said that with contactor closed phase to phase is 0.
These are just so you have something to use for comparison.
Keep the contactor closed. This keeps a load on the hot lines.
Next go as close to the source of power as possible and measure each hot line to earth at that location. Should be 120. Read hot to hot and reading should be 240. If phase to phase is still near 0, then the problem of a high resistance is somewhere before this location.
If voltages are good at this location, then the problem is between here and the motor, and since you indicated the problem exists at some subpanel, then problem is between here and the subpanel or within the subpanel.
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