When no posts exist I'm used to seeing the message after the else, and I'm not sure why it's not showing it now?

Code:

<?php
     $args = array( 'post_type' => 'event', 'posts_per_page' => 1, 'post_status' => 'future', 'order' => 'ASC' );
     $loop = new WP_Query( $args );
     if ( have_posts() ) : while ( $loop->have_posts() ) : $loop->the_post();
  ?>
  <div class="event_preview_title"><?php the_title(); ?></div>
  <div class="event_details">
    <div class="event_date"><?php the_time('m/d/y'); ?></div>
    <div class="event_time"><?php the_time('g:i A'); ?></div>
  </div>
  <?php the_post_thumbnail( array(65,65) ); ?>
  <a class="clickthrough" href="<?php bloginfo('wpurl'); ?>/events"></a>
  <?php endwhile; else: ?>
        <p>Bluebird Books may be coming soon to a neighborhood near you!<br />
We are currently on hiatus planning our next season's schedule. New tour dates will be posted to this page once confirmed. Meanwhile, inquiries about appearances and programs are welcomed! If you are interested in having Bluebird visit your business, school, or special event, please contact us.</p>
  <?php endif; ?>

Thanks!