Will this wheel fit my Terra?

Rear wheel from an '07 F650GS. I'd like a street set that sat a little lower.

Yes, the 2007 F650GS was the last year they used that designation for the single cylinder bike, starting in 08 the singles were called G650GS.
The 07 F650GS wheels will be a direct bolt on fit, the cush hub, brake rotor & ABS/Speedo tone wheels are all identical to our bikes.

Thanks! Now I just need to convince the wife...