I went to school in Williamsburg and we go there all the time - we like Sunterra Greensprings Plantation and Sunterra Powhatan Plantation. Both are timeshares - not sure if they rent out or not. We have also stayed at Fairfield Kingsgate, Williamsburg and that is nice, too.
There isn't much in between Williamsburg and Norfolk for nice resorts, you would probably be better off either in Williamsburg or in Virginia Beach. I think these resorts in Williamsburg are nicer than the timeshare resorts at Virginia Beach (we also lived there for several years and own a timeshare there).
If you stay in Williamsburg be sure to eat lunch at the "Cheese Shop" and either lunch or dinner at Pierce's Pitt BBQ - both very popular (and yummy)!