Yes. It was finally settled in the 5th Circuit court case of Matter of Deberry (2018). A Texan can sell their homestead, then file chapter 7 bankruptcy. So long as they claim the home as exempt, and the exemptions are allowed (which is what usually happens), they can then sell their home, and do whatever they want with the sale proceeds.
In other words, in this situation neither their creditors nor the bankruptcy trustee have any claim against the homestead sale proceeds. And the debtor does not have to reinvest the proceeds into another homestead within 6 months, as would usually be the case had they not filed bankruptcy.