Hi Alkay, You can make a guitar out of any wood (and nearly any other material), but the question should probably be should you do it.
Besides being heavy, it may crack with age, most tonewoods used on guitars have been aged, or kiln dried, before you buy them. If you can find someone to cut it down, it may look good as a veneer over another wood, but if you are just looking for something cheap to use for your first scratch build, you can't go past pine.