Rachel - your soil test results show a soil that is generally healthy with a good ability to hold the fertilizers you apply and sufficient organic matter in the soil.  With Below Optimum Potassium, you will want to purchase a fertilizer with Nitrogen (the first number on the bag) and Potassium (the last number on the bag).  I see that the recommendations are for .1 to .2 lb. of Nitrogen and .57 lb. of Potassium per 100 sq. ft. per year.  That ratio will most likely be challenging to find in one fertilizer product so you may want to apply a separate Potassium fertilizer throughout the year.  When you purchase a fertilizer, you can come back to the soil test site and enter the numbers from the bag into the Fertilizer Calculator (found under Tools) and the site will calculate how much to apply specific to your soil test results.

With a pH of 7.5, you will want to stay away from planting shrubs that favor a lower pH (i.e. Rhododendrons, Azaleas, etc.).  Other than that, you shouldn't be concerned about planting trees and shrubs.  Your soil is healthy and with added Nitrogen and Potassium, should be a good growing medium.  

Good job starting with a soil test to better learn the health of your soil!  Hope that helps.