Ouch. I must clean up my reputation, given Murray's comments...
Bill Spencer is one of the GM dealers that's a sponsor on these Forums and they're well thought of and familiar with Corvettes so you should be given good service/advice and kept informed about your order. Having said that, if you're being told that the 2022 C8 allocations which they
expect to get from GM are such that you're too far down on their list to likely get one, then you should consider following Murray's advice and get your name on a list with someone else. You have a choice: jump ship completely and go with someone who tells you that they expect to get a 2022 allocation for you, or stay with Bill Spencer and ALSO get on the list with someone else as well. Your deposit is refundable until you actually get an allocation and make your order (that's usually the case but I'd have the dealer confirm that) so that's why many will get on multiple lists to better ensure they'll get an allocation. Hopefully you can talk to the dealer and put in a lesser deposit (ie. much less than $5,000) so too much of your money isn't tied up in multiple locations. Finally, recognize that lists change: even if you're far down on a list it's common for others ahead of you to drop out and you'll move up more quickly than expected and may get an allocation. That's what happened to me. But be sure any dealer you make a deposit with, confirms that they'll move you up on the list after anyone drops out, rather than take that allocation for the dealership itself...which some less reputable dealers (IMO) will do. But I doubt that Bill Spencer does that or any of the others that Murray has mentioned. Hope this helps out and good luck!
I'll just add
RockMan that there's a wealth of info on these Forums and your question has likely been answered many times already on different threads, since these (mainly) COVID-caused delays with the C8 production and allocation difficulties have been with us for well over a year now and all of us who already have our C8's or have ordered them, have faced the same issues. Don't be shy to use the search function to locate them or other threads that will likely answer many of your other questions. Welcome to the Forums!