No, look at the picture that rob had a link to. There is that fairly wide area behind the shoulder blade where there would be some room between the actual spine and the cavity. This area gets very small as you go back on the deer. When I just got into bowhunting 12+ years ago, I had a problem coming down on the animal and releasing when I saw brown in my sights (very inexperienced and only 14 years old). I hit two deer in this area. It stuns them because it shocks the cord, but it is below the spinal cord so no real damage is done to it, but it is above the chest cavity, so no damage there. Look at the link again (above the heart but right outside the top of cavity and right behind the blade. Hit that area and you arent going to get much penetration, very little blood, and as my gun hunting has shown, a deer that has a decent chance to live. Its definitely not a big area, but it is there.

I misspoke before, this is more likely to happen when shooting from the ground, NOT A TREESTAND.