I broke my neck at the age of 22, a C4-5 fracture. I was initially quadriplegic. I have regained much function and today I can ride a bike, cross country ski and play golf. It took me about a year to regain full movement. Today I still walk slowly and my balance isn't as good as it once was, but I would say yes, propreoception can come back. I am now playing my guitar again.
I am 39 years post injury. Check out my blog:
www.RidingandWritingUtah.com to find out more about me.