First, a caveat: I don't know the Plano market. And a second caveat: I'm a Realtor, so you may consider my view less-than realistic. Still . . .
Yes, homes in most areas of the country (and I'd include Plano) will sell. The market will recover. There are a few areas--for example, certain areas around Detroit and elsewhere in Michigan, as well as some in other areas of the Midwest--where I'm not so sure the market will ever recover. Or at least not for 20-30 years. But those areas of really deep depression, coupled with a significant loss of jobs, are fairly rare.
There are plenty of other areas--parts of California, Nevada, and Florida--that are probably far worse off than Dallas. And California, Nevada, and Florida will all recover. I'm not saying this year, and I'm not saying next year. But they will.
The question is one of timing. I'll defer to any agents familiar with Dallas and the surrounding areas. But prices have already strengthened in some areas--Northern Virginia (where I am) being just one. I'd say 2-3 more years in areas that weren't terribly hard hit when the bubble burst. And I'd say 5-6 years in the harder-hit areas.
There is a school of thought suggesting that things will get worse once the tax credit ends. That could be correct. However, to the extent that prices may decline some, it'll make home prices even more affordable. The real driver, though, won't be the tax credit. And it won't be much else directly related to real estate. Instead, it'll be the whole employment situation in the United States. If unemployment drops from the current 10% down to 7% or so (which may take a few years), that'll help greatly. Plus, in addition to the unemployment numbers, there's also a question of consumer confidence. Even though most people have jobs, and most people won't lose them, right now there is substantial fear about the possibility of job loss or job cutbacks. People have to feel confident again before they'll be ready to go out and buy.
There are some other factors involved, too--such as the rate of inflation and the cost of money. Inflation is likely to rise, and the Fed at some point will feel the pressure to raise interest rates to try to slow down inflation. That'll depress the housing market.
There's also the fear that banks are holding back on releasing many foreclosures back onto the market and that--once they do--that'll depress housing values.
So, what's that all mean? Short-term, slow improvement, especially in areas that weren't too hard hit when the bubble burst. Medium-term, continued improvement so long as the unemployment rate continues to fall. But there will be a number of forces--inflation, higher interest rates, release of foreclosed homes--that will slow down a housing recovery.
I know that's not the definitive prediction you may be seeking, but I think it's a realistic view . . . even if it is from a Realtor!
Hope that helps.