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Mine did the same thing a few years ago and the motor wouldn't shut off. Usually the nylon cord inside is broken. I think there were links here or somewhere else on the web how to fix that. It's basically just weed whacker nylon cord that you can buy anywhere and then rewind it and heat and melt it into the antenna shaft. This works if the motor is not dead. Again, find the instructions how to do that.
I took the easy but more expensive way out. Ordered a replacement antenna unit from GMPartsDirect.com. I did not have to remove the fender like some people say. I did have to take the wheel off and remove the plastic fender well. A bit tight inside, but do-able. If I find the links I mentioned, I will post them here.
Here's some more info...
The GM Part# I ordered for the new antenna was: 88891017. It was $131.24 in June 2009. The part number is still available on gmpartsdirect.com. It's $147.46 now. I was able to re-use most of the hardware from the original antenna so that I had the correct trim piece on the fender, etc.
I did a detailed writeup over on tb.com in the tta section on how to replace the chord with galvenized stranded wire that will last forever if you are handy. Didnt remove the fender either on either car to do it. Can't get the url to pull up on my phone to post it here.