From what I can gather, and it may not all be correct, but i don't not trust this person
The pitchforks actually should be directed at the AAA Thunder out of Huntsville. They apparently have territorial rights over 5 states. Tennessee is one of them. (AAA feeds junior programs I believe, and that is where serious looks happen.) Jr. Preds applied to become a AAA club/member and Thunder said no.
There is a group at A-Game that is keeping the AA team together, just not under the Preds banner. So youth hockey isn't going away. It will just have a different name.
On another note, Jr. Preds had their challenges and this may be the best thing for them. I do think they will be back along with a slew of other programs and teams when the new ice is done.
relax...