The faster water is removed, the less damage occurs. Wood flooring expands as it absorbs moisture. Typically you would notice in wood flooring that it warps or buckles. If proper drying is not done those floors may need to be removed. There are two noticeable warping effects on wood floors, cupping and crowing.
Cupping: this occurs when water is absorbed from the bottom of the wood. The edges of the wood floor will slightly raise hence the name "cup" in cupping. This is often fixed with sanding.
Crowning: this occurs when the top of the wood contains more moisture than the sides and bottom. This makes wood flooring arch in the middle. If the bottom of the wood is over-dried this will occur. You may not be able to sand this out and floors would need to be replaced at this point.
If you have an questions or concerns about your flooring and moisture contact SERVPRO of Council Bluffs/Missouri Valley for any of your water, fire, or mold needs.