I am now in a simlar position. I have a BS in Software Eng. and did a Masters/PhD in Computer Science after a year and a half of software development work.
After my PHD I got a postdoc in a 3 year EU project just finished. Now I am craving to get out of "academia" and get into software development again. The problem is that I would consider my development skills as a "junion" or "mid level" developper but without hardcore expertise in a technology.
And the worst problem is that as you say, a lot of companies that see my Resume see "PhD" and think "overqualified".
Recently I tried appliying to a group some company that is doing Machine learning with the hope that they will see a PhD as a "feature" and not a bug.