You shouldn't have to manually locally install that jar unless you're blocked from direct Internet access. Normally, Maven will check your local repository and install it from the remote Maven repo, if it isn't in the locale cache repo.
However, it appears that you have a mismatch on IDs. Your POM is asking for hibernate-annotations, but your install was instructed to file it under hibernate-commons-annotations.
An IDE is no substitute for an Intelligent Developer.
I am back from the office now but I guess I had noticed the difference & tried out both ga & GA.
I also checked the dependencies for this particular artifact and had them inserted in my pom which worked fine.
Anyway, will let you know tomorrow.