That depends. There's so much variation in properties within any species, and so much overlap between them, that generalizations on that basis are pretty broad. Each species does tend to cluster around certain specs, and in a factory setting, where they build to averages, you're more likely to find the performance of the guitars correlating with the species than in a hand made, where the worker can adapt. In that case, IMO, spruce is pretty much spruce, and there's not a lot of difference between them if you control for density.
Cedar and redwood are different animals, because they usually have much lower damping than most of the samples of spruce you'll see. The trick here is that it's really hard to say just what that means in terms of sound. In my experience cedar tends to be lower in density on average than most of the spruces, while the redwood I've worked with has al been much more like average Sitka or Red spruce than cedar. This provides a control, of sorts; to the extent that generic 'cedar' and 'redwood' guitars share any tonal properties, it may be because of the similarity in damping. Maybe.
All of this is grist in the maker's mill. Each piece of wood offers possibilities and sets limits, and it's up to the maker to realize the possibilities and approach the limits. If you're looking for a particular sound you're more likely to get it by finding a maker who tends to make that sound already, and telling them what you want, rather than by specifying wood species.
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