In a sense, yes. Although it can snow at any temeprature, low temperatures can be associated with air stability. Without some instability there's not enough lifting of saturated air to allow snow to develop aloft and fall to reach the surface. When temperature decreases, the maximum capacity of water vapor that can be retained in the air decreases. Therefore, the colder it gets the less water vapor there will be in the air and with the reduced water vapor content add little or no air movement (especially vertically) and voila... too cold to snow... (With thanks to The Weather Prediciton)