It is not normal for a PSA 7 Savard RC to go that high. Usually PSA 8's go for almost $500.00. However, I know that there are many Hall of Fame collectors, and that could be one reason it went crazy.
Also, do keep in mind that the Savard RC is a low pop card in PSA 8, I think there are only 10 of them. There is only 1 or 2 PSA 9's.
It is a tough card to get in high grade and maybe that is why the price went nuts...I think 7's usaully go for $100 to $120.
The opc 69 Savard Rookie has been a card undervalued for several years now (SMR at 25$???). Many people try to have one in PSA 7 or higher but the pop is simply not there to required the demand. So sometimes we can see things like the last auction. I personnaly sold a solid PSA 7 175$ which is I beleive a fair price for this card. As mentionned in earlier message by Dan, some PSA 7 went under 100$ but i think these sales happened several years ago. (correct me if i am wrong). But 500$, is definitely way too high.
I bought the Savard PSA 8 a couple of years ago or more on eBay. I probably waited for that card for a few years before I found it. I really don't know what I paid, but it seems like it was around $250. I had some cash and was ready to pay a premium for it. The first 10-15 cards in the 1969 OPC set can be really tough to find in PSA 8 or better and they always go for a premium. (Some more than others obviously.)
That being said, I was also shocked when I saw that card in PSA 7 going for over $200.
Once you own a card for a few years, it's easy to lose track of its value since you usually aren't watching it any longer and are concentrating on other cards that you don't have.