Well, there are some fellows who use those terms freely and loosely, and who mean nothing by them. Others use them as terms of real affection. There's no way for us to tell which sort this young man is. I suggest that, the next time this gentleman addresses you that way, you ask him, "what are you trying to say when you call me 'honey' (or whichever one he does say)"? Either he will scramble for something else to call you, or it will give him an opening to come clean about how he really does feel.
Ok if you do not want to confront him and ask him then here's you a good solution. Listen to what he calls other women/girls. If he calls them the same thing then it's just a habit. If he refers to them by name or differently then you have a good indicator that you're special to him. Keep in mind. The other girls/women he addresses need to be in the same age frame and social status as you. Example is that of course he is not going to call the librarian baby and hun.