Depends on where you want to teach...For example, there are a number of professors at Cooley who went to Cooley. If you look at any individual school's faculty profiles, you will notice that schools hire professors who earned a JD at just about any school out there. I was looking at the faculty profiles at the University of Michigan today and noticed that while most of the professors had attended Harvard, Yale, or Michigan, there was one each who went to Pace, Loyola-LA, Wayne State, Wisconsin, and U of Detroit (maybe more, I ran out of time).
Yeah, it's somewaht analogous to bigfirm work, in that there are national schools, and those that might place more regionally.
However, it should be noted that academic placement is even more competitive than biglaw placement, and school prestige is even more important. Usually, outside the top 16-25, you'll be limited to a narrow region, or even your alma-mater. Exceptions are if you make a big name in a particular area of law.