After the 2010 census, we may see a swing of 10+ EVs from blue to red states..making the electoral math for a lib dem even harder..
The trend will undoubtedly continue due to the baby gap between Red and Blue. I don't know about 10 seats, but there does not seem to be a whole lot that would stop such a trend from continuing.
The fact that the south is picking up political influence is the least of their worries. I fully expect them to start mounting calls for modifying or abolishing the electoral college.
They're missing the big story here, of course. The real story is not the population decline but the aging of the remaining population. That alone will give them nightmares, and even if they rewire the electoral college they will still be losing House seats, and we all know that it is the House that holds the purse strings. Their only end-run would be to get a President friendly to their interests to perpetually declare blue states disaster areas to secure temporary funding boosts there.