This is a very interesting development. I think a lot of the key notes have been mentioned already.
Brown is a FA at the end of the season. Ten just drafted a RB in basically the 1st round of the draft. A RB that has a history with the OC. Brown obviously knows something we dont know. My guess (from an agent perspective trying to negotiate a new contract) is that the Titans were asked what Browns role would be in the offense. They were probably told that the Titans were very excited about the full stable of RBs (Brown, Henry, White, and Jarrett) and were going to exploit the talents of each of them, i.e. Brown would not be getting the lions share of the carries. This is most likely why Brown requested a trade.
Talent aside, Travis Henry cannot be a starting RB in the NFL. Meaning, they would need a full time replacement ready for if he hits another suspension (1 year). I dont think Ten wants to go into the season with Henry and a rookie with Jarret as a backup. It simply doesnt make sense.
My take is that Ten will not trade Brown and use him this season as the starting RB. No team wants a rookie to start due simply to blocking for the QB and picking up the system. That said, I would expect Brown to get 10-15 carries a game and should drop down a lot of folks drafts. This opinion here is coming from someone pimping Brown a bunch going into this season.
If Ten did want to trade Brown, an obvious choice would be Phi, Denver, Hou, Pit, or maybe even Buffalo (haha). I think Browns problem is that he hasnt shown anyone he can stay healthy. If he does that this season and keeps his mouth shut, he should see some decent money next season even if it isnt full time money.