We aren’t talking about sage. Clary sage is much stronger, or so I was led to believe.I'm not into aromatherapy, but that sage people burn as a 'cleansing' something or other, does seem to produce a light calm feeling.
Wouldn't surprise me if there's something more to it than it's aroma. Given the extreme potency of Salvinorin A as an agonist to certain opioid sites (as the most obvious example) I do believe there could be more interesting compounds to be found in Salvia species than meets the eye (or nose).