Tennessee seems pretty confident, UNC moreso, and there's a list of conditions going around. My opinion is he stays, since the UT job can't have much more appeal than the Arkansas gig for a Razorback alum. Of course, I was pretty sure he wasn't coming to UNC in the first place, so if there's one thing we've proven, it's that I do not know the mind of Butch Davis. Helpful, I know.
It's worth pointing out that Davis didn't poll too well on the sister blog, although he was up against at two Super Bowl winners who have shown no interest in returning to college coaching. But I guess after you fire a guy who brought in a national championship, you figure you have to aim high.