Absolutely, but I would question "how small"? GSP's are high energy, big, strong dogs and can knock little ones for a loop if they are in the wrong place while the dog is chasing a ball, running, etc. But overall, GSP's are bigtime family dogs and mine have made great house dogs/pets as well as being fantastic bird finders.
They need LOTS of exercise, not just throwing a ball 10 times in the backyard either. They need to go run for a couple of hours or go swim for an hour at least a couple of times a week. They are very loyal committed dogs as long as you are committed to them as far as giving them a job and getting them the proper exercise they need.