I'm not a big fan of it to be honest as the SEC Tournament is mostly bad basketball. Keeping the tourney in the same place will quickly dwindle interest in that city IMO.
I think it should rotate between 4 cities since the SEC footprint stretches from Missouri to Florida. Bounce them around between Atlanta (my preference), New Orleans, Nashville, and St Louis. Florida, UGA, and South Carolina fans wouldn't travel if the tourney was in their backyard so I mostly disregarded them in my 4 cities list.
ATL obviously favors Alabama, Auburn, UGA, SC Lite, and UTK
Nashville favors Kentucky, Vandy, UTK, Bama, and Ole Miss
New Orleans favors LSU, but no one minds 3-4 days in NOLA
St Louis favors Missouri, Kentucky, Vandy, Arkansas, and maybe Ole Miss
Mi$$ $t, Texas A&M, and Florida fans have to travel far regardless, but their travel fanbase is in the low 100s so there is no reason to accommodate them.