Yep, you're going to be working back and forth on one needle for a while. Eventually the heel of your sock is going to end up as a big flap. Then, you'll pick up and knit
stitches along the sides of the heel flap, and move stitches around on the needles until you're working in the round again. Silver's Sock Class
has great instructions on how to work a sock, by our very own Silver! I'm making my third sock with her. My first sock is here.