I used to commute for about three years to Memphis and stayed at The Peabody most business days (corporate expense) now over two decades ago. I could NOT STAND Memphis then and "drumroll" I have not been back since.
Those who live(or commute there now )can weigh in with more current info, but I found it to be an extremely racially divided city. I also felt as though I was "always looking over my shoulder" for safety reasons.
Likely if you stay at a very good hotel, where both your vehicle and your person are secure, and you are extremely careful and aware, and not drive by yourself at night....doors locked when you do....AND, know exactly where you are going and how, when you do venture out....maybe you would be fine. Obviously NOT every one in the city gets attacked or killed or becomes a victim of even petty crimes.. But, look at the crime stats, be aware of the more "troubled" areas, and be aware of the more upscale areas that "could" be targets for crime. Most cities have a "crime map," where you can search crime types by areas....Google to find one for Memphis and take a look for the last (maybe) three months. Look closely around the places in the city you might choose to visit or stay overnight. While "history" is no guarantee of the future, a quick look at those crime maps can be a bit "telling."
My own city, Nashville, has changed radically over the last few decades. While I do not "think" crime is as bad as Memphis, it sure is not of the level that any of us "long-timers" would be proud of. Used to be if someone got shot, we would all gasp and be talking about it for months........now (sadly) some call it the "morning body count," as we hear of shootings (often multiple ones) almost daily on local news.
Sadly gun laws have been relaxed in Tennessee, and it is quite common for young thugs to break into cars to steal guns (that citizens feel they need to protect themselves). And, as a cashier once commented (now about 10 years ago), "It used to be that if someone got mad at someone, they would flip them a bird...now they just shoot them." One hears about road rage shootings (and killings) and often it is just because someone unintentionally cut someone off......and often seemingly for "no reason," as was the case with a nurse who was shot en route to the hospital a few years ago. Sad state of affairs, and nothing seems to be getting the attention of our state legislature (of which many....not all...elected) that thinks the problem is NOT the guns. Yeesh.
If it is a trip you really want to take, you can likely do it safely....just make very cautious choices and stay aware.. MIght be worth it to have a local drive you in Memphis.