Sure it does. If you have no damping, for an unforced oscillation you have the governing equation
[tex]m\ddot{x} + kx = 0[/tex]
This admits solutions of the form
[tex]x = Ce^{\lambda t}[/tex]
where [itex]\lambda[/itex] are the eigenvalues. Here, your eigenvalues are
[tex]\lambda^2 = -\frac{k}{m}[/tex]
which means that [itex]\lambda[/itex] is always imaginary since both [itex]k[/itex] and [itex]m[/itex] are real and positive. For an undamped, free oscillation, the eigenvalues are always purely imaginary. That means without the damping force, the oscillation will continue into infinity.
Now, for damping the governing equation is
[tex]m\ddot{x} +c\dot{x}+ kx = 0[/tex]
which has the same general form of the solution, only the eigenvalues are now
[tex]\lambda = \frac{-c \pm \sqrt{c^2 - 4km}}{2m}[/tex]
In this case, the eigenvalues are purely imaginary if [itex]c = 0[/itex] (the undamped case), are purely real if [itex]c > 2\sqrt{km}[/itex] and are complex if [itex]c < 2\sqrt{km}[/itex].
A purely imaginary eigenvalue means the system oscillates for all time. A purely real eigenvalue means that the solutions are exponential and decay directly to zero (since it is impossible to have a positive eigenvalue). A complex eigenvalue means you have an oscillation of decreasing amplitude until eventually you reach zero.