The partisan ID of this sample is 30.3% Dem, 30.2% Rep, and 26.4% Indy (even). The 2008 Tennessee turnout was 33% Rep, 32% Dem, and 35% Ind (R+1). That means Vanderbilt is banking on a NET larger Democratic turnout in 2012 than in 2008. If you're one of those that believes 2012 turnout will not be as favorable to Obama as it was 4 yrs ago, then this poll is over sampling Democrats a bit. But considering McCain carried this state 57-42% four yrs ago, Romney does appear to be under-performing in this Southern/Appalachian state.
They are not banking on it, because it's a poll of adults. And in TN there are a lot more Democrats registered than Republicans. Which makes the sample of adults more or less correct. Likely voter samples might be a different story though.
There are exactly the same number of registered Dems and Republicans. There are 0 of each. We don't do party registration.