Cherry blossoms are very prominent in Japanese culture. From Wikipedia:
In Japan, cherry blossoms also symbolize clouds due to their nature of blooming en masse, besides being an enduring metaphor for the ephemeral nature of life, an aspect of Japanese cultural tradition that is often associated with Buddhistic influence, and which is embodied in the concept of mono no aware. The association of the cherry blossom with mono no aware1 dates back to 18th-century scholar Motoori Norinaga. The transience of the blossoms, the extreme beauty and quick death, has often been associated with mortality; for this reason, cherry blossoms are richly symbolic, and have been utilized often in Japanese art, manga, anime, and film, as well as at musical performances for ambient effect. There is at least one popular folk song, originally meant for the shakuhachi (bamboo flute), titled "Sakura", and several pop songs. The flower is also represented on all manner of consumer goods in Japan, including kimono, stationery, and dishware.
1 Mono no aware (物の哀れ) [...] is a Japanese term for the awareness of impermanence (無常 mujō), or transience of things, and a gentle sadness (or wistfulness) at their passing.
So yes, they do have a special significance.