I am mystified by the confusion regarding this, so I will give a sketch of an answer to the problem, and the proof of the related theorem that has been quoted in another answer.
The Problem
Let the coefficients of the expansion of the initial wavefunction in energy eigenstates be $c_n$, so that at time 0:
$$\psi(x) = \sum_n c_n \phi_n(x) $$
Where $\phi_n(x)$ are the energy eigenstates. Then at time t,
$$c_n(t) = e^{-i(n+{1\over 2})\omega t} c_n(0)$$
by the time dependence of the eigenstates--- eigenstates just get a constant phase per unit time, proportional to the energy. So at $t=T={2\pi\over\omega}$, all the phases are $\pi$ plus an integer multiple of $2\pi$, and
$$ c_n(T) = - c_n(0)$$
So that any (normalized) sum, finite or infinite, of eigenfunctions comes back to minus itself, so that up to a global phase, it is exactly the same, while at time $t=2T$, the wavefunction comes back to itself including phases. In terms of the time-dependent wavefunction $\psi(t,x)$,
$$ \psi(T,x) = \sum c_n(T) \phi_n(x) = - \psi(0,x)$$
$$ \psi(2T,x) = \psi(0,x)$$
The reasons for the silly phase reversal is the zero point energy. If you subtract the zero point energy from the Hamiltonian, you make the energy of the n-th level an integer multiple of $\omega$, and then the wavefunction precisely repeats every T.
When the energy levels are equally spaced, the wavefunction always repeats up to a global phase, after a time equal to h over the energy spacing (or $2\pi$/spacing in units where hbar is 1, as above).
The General Recurrence Theorem
Jon mentioned the quantum analog of the Poincare recurrence theorem. I will give the proof of this theorem below, because the proof is a consequence of the argument above. It is circular to argue using the theorem, because the proof of this theorem is based on the special case of equally spaced levels, on the harmonic oscillator.
The general analog of the Poincare recurrence theorem in quantum mechanical systems with discrete energy levels $E_n$ is proved a little more simply than the classical Poincare recurrence (although both are simple).
First set the ground state energy to zero by adding a constant to H (so that you throw away any overall phase in the wavefunction), set the first excited state energy to 1 by redefining the unit of energy/time, and then approximate the i-th energy level by a rational number $N_i/D$ with error $\epsilon_i$ so that $\epsilon_i\le {1\over 2D}$ (this is just the stupidest approximation--- pick any denominator, and choose the closest numerator. You do this with the same denominator D for all the energies).
Now the first N energy levels are, by necessity, close to integer multiple of $1/D$, so that any superposition of these states will recur (up to a small controlled error which shrinks with D) after a time which is the reciprocal of this common denominator, $T={2\pi D}$, by the harmonic oscillator repeating shown above.
Make N big enough so that superposing the first N levels with the best coefficients gives you a state which is $\epsilon/3$ close to the initial state (this is possible because the energy eigenstates are complete). and then make D big enough so that the period T makes the state recur with error $\epsilon/3$ (which is possible, because the recurrence of any superposition of the first n energy states gets more and more perfect as D gets large). Then the initial state is a distance $\epsilon/3$ from a state which repeats itself within an $\epsilon/3$ to something which is again $\epsilon/3$ from the original state, so that the state has come back within $\epsilon$ of itself.