Hey I'm from Michigan too -- I'm really happy to help you out ... only if you reciprocate the favor:
Please chance me ... I'd really really appreciate it!
Anywho, let's break your stats down. You are an IOS (in state), which means that admissions is a little bit easier for you. Your GPA isn't bad, because it is in line with UMich's average. Make sure that you take into account that Michigan does drop all non-academic courses and only counts the ones that they consider as core. For example, orchestra and gym does not count, whereas core classes are your english, math, science, and social studies classes ... you know, the classes we've learned to love. Your SAT is below UMich's range, but your ACT is at Umich's 75% percentile. You should send your ACT scores and forget about the SAT -- don't retake to save money. A 31 on the ACT is more than sufficient for admission to UM; I know someone who got in IOS with a 29. Just apply early. Your classes are pretty challenging, with plenty of APs (7) and honors classes, and UM will like this and your challenging courseload will compensate for your lower GPA. You will also qualify for some credit with your 4 on Eng Lang ... I'm not sure if they give credit for Psych, check the admissions website. Your ECs are not the most impressive, but they show dedication and the admissions staff will appreciate it, and your special circumstance (panic disorder) will help you greatly in admissions. I think that if you describe your situation with panic disorder and how you dealt with it, your story will truly be inspiring. Not many prospective students have Panic Disorder, and even fewer people succeed with it. With your impressive stats, you clearly demonstrate that you have successfully conquered your disorder (a barrier in life), and that shows that you know your way out in times of adversity. That means alot.
Along with your attending pre-college classes at Carnegie Mellon, I think you have an excellent chance of admission; you may even get into the Honors Program. I'd be surprised if they reject you; you're a strong candidate for UMich.
Chances:
-UMich: Safety Match
-UMich Honors Prog: Low reach
Good luck and GO BLUE!!!