2011 ESPN 150 wide receiver DeAnthony Arnett is apparently transferring from Tennessee, due to the illness of his father and the firing of the Vols' WR coach, according to this article.
The illness of his father is a very tough thing for Arnett to go through, so its understandable why he probably wants to play college football in his home state. If he does transfer, he'll probably seek a waiver from the NCAA so that he doesn't have to sit out a year.
Michigan won't take another receiver from the 2012 class, the whole Monty Madaris thing is a dead end. But a player as talented as Arnett might just interest Brady Hoke if the Wolverines have one spot left in the class towards the end. This is definitely something to keep an eye on.