All the women at the prison including the baby get killed, along with Hershel.
Rick is killed (this is left open, so he could show up again)
Andrea and Michelle get away together again along with Milton. The governor and most of the town die.
Daryl, Carl, and Glenn escape but are split up.
The nest season is about their efforts to survive and reunite (if they survive).
Is this your conjecture, or do you already know?
I wish they had never introduced the baby.