That is completely normal, since after reformatting and reinstalling Mac OS X, you now have a blank copy of iTunes which appears as a completely different library for your iPhone. To get the content from your iPhone, see this support article:
http://support.apple.com/kb/HT1848
You can also download most of your content (the notable exceptions being movies, some of which can be redownloaded if you're in the US, and audiobooks) again from the iTunes Store:
http://support.apple.com/kb/ht2519
For content not purchased from the iTunes Store, check out this post from Zevoneer for some iPod/iPhone media recovery options:
http://discussions.apple.com/thread.jspa?messageID=10570955#10570955
Regards.