Red, that's a whole lot more than just condensing.
I certainly would not come close to calling it plagiarism. It's the same source as the song The Little Girl (John Micheal Montgomery..I think)
I've seen others attempt to put some of these stories into songform only to end up with several extra verses trying to include too many details.
Now if they had written this from a poem, it might be different. then again it depends on how close it was to the poem.
Of course I kicked myself when the song first came out. Because I had started and never finished a song very similar. I think it was called Help Someone Else(on down the road) or something like that. Always thought I'd get back to it. Probably won't now. (if I could find my notes)

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Harriet
http://www.soundclick.com/bands/9/harrietamesmusic.htm

Harriet
http://www.soundclick.com/bands/pagemusic.cfm?bandID=24419

http://cdbaby.com/cd/ames

http://www.youtube.com/watch?v=SkGHmJQ-ODU