The number of LSATs administered continues to drop - a good thing for all parties except the law schools. According to TaxProf, who calls the news "grim," 2013 June LSATs administered is down almost 5% from last year, and Octobers numbers are nearly 11%.
This shows that the least informed law school cohort, the 0L's, are becoming increasingly aware of the bad value that law school has become. One might've thought that "law school scam" fatigue would have hit major newspapers such as the New York Times or the Wall Street Journal, but they have continued to report on it, and law school blogs have continued to thrive. This, along with word-of-mouth, has led to the increased drop of LSATs administered, which in turns leads to smaller incoming classes at the majority of law schools, which finally leads to law schools taking desperate measures in order to stay afloat.
Despite the drops, most law schools seem to be, at least on the surface, remarkably intact. There are cracks in the foundation, such as Vermont's law school woes and University of Iowa's tiny first year class, and most recently the New England law school faculty buyouts, but you don't see the mass law professor layoffs or the law school closures that some of us have been expecting.