Jason LaCanfora of the NFL Network has put out some salary cap numbers this evening, and he has the Titans at $18.5 million under the 2012 salary cap. That puts the Titans near the top of the league in available cap room. The Titans have said that they like to have a little bit of room during the season so they can add players. They also like to have room to pay the 2012 performance bonuses against the 2012 cap instead of the 2013 cap.
It does mean that they still have some room to make a big deal if they so desire. The Asante Samuel thing has apparently gone away, but this shows that the Titans would not have any trouble signing him if that is the route they want to go.
The Titans could also lock up some guys that are currently under contract. Guys like Jason McCourty and Jared Cook would seem like the most obvious targets.