org.springframework.beans.factory.BeanCurrentlyInCreationException: Error creating bean with name 'sessionFactory'

I am using spring and hibernate for configuration with mysql db.

My we.xml file has following code :

<?xml version="1.0" encoding="UTF-8"?>
<web-app version="2.5" xmlns="http://java.sun.com/xml/ns/javaee" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://java.sun.com/xml/ns/javaee http://java.sun.com/xml/ns/javaee/web-app_2_5.xsd">

    <listener>
        <listener-class>org.springframework.web.context.ContextLoaderListener</listener-class>
    </listener>
    <context-param>
        <param-name>contextConfigLocation</param-name>
        <param-value>WEB-INF/classes/applicationcontext.xml</param-value>
    </context-param>
    <session-config>
        <session-timeout>
            30
        </session-timeout>
    </session-config>
    <welcome-file-list>
        <welcome-file>index.jsp</welcome-file>
    </welcome-file-list>
</web-app>

My applicationcontext.xml file has following imports :

<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE beans PUBLIC "-//SPRING//DTD BEAN//EN"
"http://www.springframework.org/dtd/spring-beans.dtd">
<beans default-autowire="autodetect">
  <import resource="spring-config/spring-common-applicationContext.xml"/>
  <import resource="spring-config/spring-db-applicationContext.xml"/>
  <import resource="spring-config/spring-dao-applicationContext.xml"/>
  <import resource="spring-config/spring-processor-applicationContext.xml"/>
  <import resource="spring-config/spring-security-processor-applicationContext.xml"/>
  <import resource="spring-config/spring-service-applicationContext.xml"/>
  <import resource="spring-config/spring-security-service-applicationContext.xml"/>
</beans>

My spring-db-applicationContext.xml has following code :