You're missing __init__.py. From the Python tutorial:
The __init__.py files are required to make Python treat the directories as containing packages; this is done to prevent directories with a common name, such as string, from unintentionally hiding valid modules that occur later on the module search path. In the simplest case, __init__.py can just be an empty file, but it can also execute initialization code for the package or set the __all__ variable, described later.
Put an empty file named __init__.py in your Models directory, and all should be golden.