Compiler assumes array addresses are aligned for structs declared with __attribute__((packed))

If I have a struct declared like the following:

volatile struct {
    uint8_t foo;
    int16_t bar[1];
} __attribute__((packed)) foobar;

The code emitted uses LDRSH to access bar[0] and causes a hardfault at runtime. But If I were to declared it using the __packed qualifier:

__packed volatile struct {
    uint8_t foo;
    int16_t bar[1];
} foobar;

Then the compiler correctly recognizes the potential misalignment and emits LDRB instead. Is this the expected behavior? I'm using uVision v5.17 with Armcc v5.06 update 1 (build 61). Thanks.