Y’all is a contraction for “you all”, therefore is most certainly plural.
If you have ever a situation where it seemed that a single person was being addressed as “y’all”, it is far more likely that the speaker as addressing the person as a representative of a business, organization or specific group of people, therefore, it is still a plural usage.
“Y’all come back now, y’hear?” seemingly addressed to a single person is actually an expression that means that person and his or her family is welcome for a return visit.
I live in New England now, but I’m a 14th generation Virginian. I don’t use my Tidewater accent outside of family situations as it is likely to be misinterpreted that I am unintelligent or worse.