I'm here to say that they do- even though I didn't believe it back then.
And you really will turn around and wonder where the time went.
And you'll wonder when, exactly, did her friends switch from the stuffed, plush type to the living, breathing help-you-be-the-best-you-can-be type?
And you'll feel happy and sad at the same time. But mostly happy.
And you'll wish that you had fully charged the battery in your camera before you left home. Because then the picture of your child leaving the auditorium to get in line to be announced as a graduate won't be the last picture on the camera with a good "zoom" function.
And you'll be left taking the picture of her big moment with your cell phone. (Which at least you'll have and be grateful for it!)
(Still not perfect parents- not sure exactly when that part comes- but blessed to have such amazing children, anyway!)