UT and UK both gave me $$$ and I ended up choosing Tenn over UK. It really comes down to where you want to work after you graduate. I want to work in Nashville after graduation and a quick martindale search showed me how powerful UT was in the nashville market (just as UK grads tend to dominate a city such as Louisville). Both are great schools. The facilities at UT trump UK by a longshot, but UK is apparently building a new law school soon (but that surely doesn't mean it will be done before you finish). Lex and Knox are both great places to live. Both have comparable cost of living (I would say Lex seemed a little cleaner and better maintained than Knox). Assuming you want to stay in the area after graduation, 70K in a place like Nashville or Louisville is comparable to over 150K in a city like NYC.
Hit me up with some specific questions and I'll try to help you out.