Station WBIR in Knoxville is reporting that U. of Tennessee officials "are meeting with sorority alumni [sic] clubs to review proposals for building houses on campus."
The report quickly touches on some concerns: suitable locations, cost, ability of all sororities to afford comparable housing, etc.
See
http://www.wbir.com/news/local/story.aspx?storyid=33477
According to the station's story, a "final answer" is hoped for by the end of this year. Construction -- if any -- would be "at least two years away."
Incidentally, the report also mentions that Auburn is thinking about houses for sororities, too. (Tennessee and Auburn are apparently the only two SEC schools wihout sorority houses.)
I think there are some U. of Tennessee sorority members and alumnae who post on GC. Maybe they can help keep us updated about the discussions and decisions.