Yes. But that is a singularity in the components of the Riemann curvature tensor. It doesn't show up in the Einstein Field Equation--it can't, because for the standard Schwarzschild solution with constant ##m##, the RHS of the EFE vanishes--it's a vacuum solution with zero stress-energy tensor. That's true even at ##r = 0##; mathematically, the EFE components still all vanish at ##r = 0## if they are evaluated with ##m## constant (i.e., not a function of any of the coordinates).
The singularity I referred to is a singularity in the components of the EFE; it's saying that the mathematical solution with ##m## as a function of ##t## only is physically unreasonable because the EFE components become singular at ##r = 0##, which means the SET components, things like the energy density, would be singular at ##r = 0##. In the standard Schwarzschild solution with ##m## constant, the energy density (and all other SET components) are zero at ##r = 0##. If you want to be precise and account for the fact that ##r = 0## is not actually part of the manifold, you can say that the limit of all the EFE components for constant ##m## is zero as ##r \rightarrow 0##, while the limit of various Riemann tensor components (that don't appear in the EFE) is ##\infty## as ##r \rightarrow 0##. If ##m## is a function of ##t##, however, then the limit of some of the EFE components becomes ##\infty## as ##r \rightarrow 0##, which is a separate issue from the Riemann tensor component issue.