Absolutely.
But boy, does it depend on your definition of "blue blood."
Brave Volunteer is pushing a definition so tied up in persona that I think only Harvard, Yale, and Princeton would qualify.
Others, like McDad, define it in a more normal way, but draw the circle so small that only 4 to 6 teams qualify.
Me, I would go with something more feet-on-the-ground (sorry, Ivy League), and something fairly tight, but not stupid-tight.
There are something like 135 FBS programs today. Let's say the top 10%, all time, are blue bloods. The Vols are certainly, in every way you can measure it, among the top 13 or 14 programs in the country, all-time.
Yes, all-time. Because that's what blue blood is about, is having pedigree. It's not a "what-have-you-done-for-me-lately" thing, that's called "new blood." Blue blood looks back over the decades with pride. As we do.
So forget all the "in history yes, lately no" responses, they miss the point. And give Brave his due for propping up the well-behaved, but football is a blood, sweat, puke and snot kind of game. It's not tennis or golf.
Yes. The Tennessee Volunteers are absolutely among the blue bloods of the sport. And will be back to championship caliber shortly, adding to that proud legacy.
Go Vols!