Couple of comments:
(1) It is difficult to heat treat only one portion of a tool (pointy-end) and not the other (shank). Heat treating modern tool steels requires controlled heating, cooling, and re-heating. If you really care, I can point you to the scientific literature, but that will put most people to sleep. Therefore, I find the argument that some tools have un-hardened shanks to be somewhat dubious.
(2) Don't confuse hardness (which is resistance to permanent deformation) with elasticity ("springiness"). Hardening a steel has very minor effect on the modulus of elasticity and internal damping. Internal damping in steels is pretty small (again, if you want, I can point you to the scientific literature)--the damping of vibrations occurs from your grip on the handle, the interface of handle to tool, etc.
Best,
Hy