One's available (soon). The West Tenn Diamond Jax (AA) were just sold to owners of Nashville Sounds (AAA).
Nashville can't get a new stadium built, and the old one doesn't meet AAA standards (but does meet AA).
So the AA franchise probably moves to Nashville in 2009, and now there is a Free Agent AAA club looking for a city.
Place your bids, but keep in mind if you have a team, you have to do something with old one.
For example, if Chattanooga or Jacksonville decide they are ready for "AAA", then they would have to buy AAA franchise from current owners (don't know if they want to sell) and then sell their existing franchise to someone else.