Show virtual node in views
Inside your view under the advance tab

Click on "no result behavior"

Chose " Entity: Rendered entity "

Add a label

Entity type "node"

Entity id "enter the node id" for the node you want to show if no result was found.

chose appropriate view mode.

here an export of a view that returns node 1 if you have no articles in your system


$view = new view;
$view->name = 'retrun_homepage';
$view->description = '';
$view->tag = 'default';
$view->base_table = 'node';
$view->human_name = 'Retrun homepage';
$view->core = 7;
$view->api_version = '3.0';
$view->disabled = FALSE; /* Edit this to true to make a default view disabled initially */

/* Display: Master */
$handler = $view->new_display('default', 'Master', 'default');
$handler->display->display_options['access']['type'] = 'perm';
$handler->display->display_options['cache']['type'] = 'none';
$handler->display->display_options['query']['type'] = 'views_query';
$handler->display->display_options['query']['options']['query_comment'] = FALSE;
$handler->display->display_options['exposed_form']['type'] = 'basic';
$handler->display->display_options['pager']['type'] = 'full';
$handler->display->display_options['style_plugin'] = 'default';
$handler->display->display_options['row_plugin'] = 'fields';
/* No results behavior: Entity: Rendered entity */
$handler->display->display_options['empty']['entity']['id'] = 'entity';
$handler->display->display_options['empty']['entity']['table'] = 'entity__global';
$handler->display->display_options['empty']['entity']['field'] = 'entity';
$handler->display->display_options['empty']['entity']['label'] = 'Show homepage';
$handler->display->display_options['empty']['entity']['empty'] = FALSE;
$handler->display->display_options['empty']['entity']['entity_id'] = '1';
/* Field: Content: Title */
$handler->display->display_options['fields']['title']['id'] = 'title';
$handler->display->display_options['fields']['title']['table'] = 'node';
$handler->display->display_options['fields']['title']['field'] = 'title';
$handler->display->display_options['fields']['title']['label'] = '';
$handler->display->display_options['fields']['title']['alter']['alter_text'] = 0;
$handler->display->display_options['fields']['title']['alter']['make_link'] = 0;
$handler->display->display_options['fields']['title']['alter']['absolute'] = 0;
$handler->display->display_options['fields']['title']['alter']['word_boundary'] = 0;
$handler->display->display_options['fields']['title']['alter']['ellipsis'] = 0;
$handler->display->display_options['fields']['title']['alter']['strip_tags'] = 0;
$handler->display->display_options['fields']['title']['alter']['trim'] = 0;
$handler->display->display_options['fields']['title']['alter']['html'] = 0;
$handler->display->display_options['fields']['title']['hide_empty'] = 0;
$handler->display->display_options['fields']['title']['empty_zero'] = 0;
$handler->display->display_options['fields']['title']['link_to_node'] = 1;
/* Sort criterion: Content: Post date */
$handler->display->display_options['sorts']['created']['id'] = 'created';
$handler->display->display_options['sorts']['created']['table'] = 'node';
$handler->display->display_options['sorts']['created']['field'] = 'created';
$handler->display->display_options['sorts']['created']['order'] = 'DESC';
/* Filter criterion: Content: Published */
$handler->display->display_options['filters']['status']['id'] = 'status';
$handler->display->display_options['filters']['status']['table'] = 'node';
$handler->display->display_options['filters']['status']['field'] = 'status';
$handler->display->display_options['filters']['status']['value'] = 1;
$handler->display->display_options['filters']['status']['group'] = 1;
$handler->display->display_options['filters']['status']['expose']['operator'] = FALSE;
/* Filter criterion: Content: Type */
$handler->display->display_options['filters']['type']['id'] = 'type';
$handler->display->display_options['filters']['type']['table'] = 'node';
$handler->display->display_options['filters']['type']['field'] = 'type';
$handler->display->display_options['filters']['type']['value'] = array(
  'article' => 'article',
);