Yes. The passport facility will return the old passport and all other original documents you provided for passport application. It is possible that your old passport is sent separately from your new passport, and it may take up to 8 additional weeks for the old passport to be returned to you. It is advisable to keep your previous passport in a secure location since it serves as evidence of your U.S. citizenship.
In case your current visa is linked to the old passport, the visa can still be utilized. In such a situation, you must carry both your new passport and the old one.