You can't beat Peabody's support--the school is incredibly large with as many grad students as undergrad. I live in Nashville and really love Vanderbilt's campus. That being said, Nashville is not my favorite city, but Vanderbilt does exist in somewhat of a bubble.
And practical experience is my concern. I want to do both research and prepare myself to be a practitioner, and I'm worried Vanderbilt will be limiting on the experience front. I'm still waiting to hear back from assistantships though. But if I don't get an assistantship, the field experience can be limited, save for summer and one semester practica.
There's also moving. That can be a pain (but I will do it if it is right for my career!).
Peabody is currently ranked as the #1 education school in the country, but Michigan has the #1 program for Higher Ed Admin.