Penzey's has opened a new store near the intersection of Poplar and Kirby on the Memphis/Germantown city limit. I'm pretty stunned that Memphis is their 4th store in the southeast (before Atlanta). Apparently a Birmingham store just opened too.
The place is spice nirvana. I was assisted by a man who either owns or manages the store. It could be franchised. He was extremely helpful. They have jars that allows you to sniff every spice. Good selection of salts, peppercorns and everything else under the sun. He said the prices were reasonable (I haven't had a chance to compare).
I first heard about Penzey's mail order on chowhound, but had a good source for spices in Atlanta (Dekalb Farmers Market). Very little selection here in Memphis. Get out there and support it! We'll be there as soon as our new kitchen is finished and we need some spices.