It's because when the plane moves through the air it compresses the air and sound in front of it. When it reaches mach 1, it catches up to its own sound and the water vapor condense in to a cone shape. At least, that's what I am lead to believe happens.
Have you ever noticed how a ambulance or fire engine with their sirens on, change pitch when the drive by you. That's the sound waves being compressed and elongated, as the vehicle moves toward you or away from you.