Link:
http://stackoverflow.com/questions/4262186/missing-maven-dependencies-in-eclipse-project
My Project was just screwed up. Here is how I fixed it for Eclipse Indigo x64 (J2EE 3.7.3):
#1.Deleted my POM file (backedup of course).
#2.Project Context Menu > Maven > Disable Maven Nature.
#3.Deleted the project (but not contents on disk).
#4.Re-imported as Import > General > Existing Project.
#5.Project Context Menu > Configure > Convert to Maven Project....
#6.Accept defaults from Maven wizard.
#7.Overwrite POM with your backedup POM. (Now you have Maven Dependencies folder).
#8.Maven Update/Clean for good measure.
Hope that helps someone.