Kristi, sounds like your olive tree is where my loquat tree is: new shoots down near the dirt line; scattered shoots now showing up higher up and farther out the long branches, but random and not too many (yet). We must be patient with the trees. I've heart they can take 6 months to revive after a devastating freeze. I'm going to remain hopeful on that front, since at least SOME higher up shoots are appearing. I'm giving up on 1 of my 2 Mountain Laurels. It went into the freeze puny; was twice as long to leaf out than the other, and some NEW leaves have died off SINCE they emerged, which I think is a sure sign the tree is dying a slow death. Not hopeful the tree will turn around now, but giving it another month to show any further sign of "life".