java.lang.ClassNotFoundException: org.hibernate.engine.transaction.spi.TransactionContext

Change the definition of your transaction manager to:

<bean id="transactionManager"
        class="org.springframework.orm.hibernate5.HibernateTransactionManager">
    <property name="sessionFactory" ref="hibernate5AnnotatedSessionFactory"/>
</bean>

And upgrade your spring framework to 4.2.x

You can use the following setup as well for Spring 4 + Hibernate 5:

spring setup:

<bean id="sessionFactory"
    class="org.springframework.orm.hibernate5.LocalSessionFactoryBean">
    <property name="dataSource" ref="dataSource" />
    <property name="configLocation" value="classpath:hibernate.cfg.xml" />
</bean>

<bean id="transactionManager"
    class="org.springframework.orm.hibernate5.HibernateTransactionManager">
    <property name="sessionFactory" ref="sessionFactory" />
</bean>

pom.xml setup:

<properties>
  <java-version>1.7</java-version>
  <org.springframework-version>4.3.2.RELEASE</org.springframework-version>
</properties>

<!-- Spring -->
    <dependency>
        <groupId>org.springframework</groupId>
        <artifactId>spring-context</artifactId>
        <version>${org.springframework-version}</version>
    </dependency>

    <dependency>
        <groupId>org.springframework</groupId>
        <artifactId>spring-webmvc</artifactId>
        <version>${org.springframework-version}</version>
    </dependency>
    <dependency>
        <groupId>org.springframework</groupId>
        <artifactId>spring-orm</artifactId>
        <version>${org.springframework-version}</version>
        <type>jar</type>
        <scope>compile</scope>
    </dependency>

<!-- Hibernate -->
<dependency>
    <groupId>org.hibernate</groupId>
    <artifactId>hibernate-core</artifactId>
    <version>5.2.2.Final</version>
</dependency>

Tried and tested.