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The quick answer: Not at all. It would be a huge surprise to me if he landed with any of the AFC South teams.
Houston: Set with Andre Johnson as a top-flight No. 1, the Texans also have a good supporting cast for him with Kevin Walter, Andre Davis, David Anderson and Jacoby Jones. And the franchise doesn't generally chase big-ticket free agents or guys who could be a sore thumb in the locker room. Plus it wouldn't want a Dallas castoff.
Indianapolis: Yes, the Colts have a hole at receiver after Marvin Harrison was cut. But Bill Polian doesn't bring in big-name, high-price, older free agents and the team generally tries to keep Peyton Manning from headaches, not provide them for him.
Jacksonville: The Jaguars need a dynamic play-making receiver. But they've sworn off pricey free agents and are putting a huge emphasis on chemistry and leadership. Those aren't the first two qualities most people think of when Owens is up for discussion. They're too run-based and small market for Owens anyway.
Tennessee: A team that once passed on drafting Randy Moss is always receiver needy, and never in a hurry to bring in anyone who could become a locker room problem. Owens' baggage isn't something the Titans would want unpacked in their locker room. Like the Jags, they're too run-based and small market for Owens anyway.