As a follow-up I made a call to the Decatur, AL Steak & Shake and talked to the manager, on duty, who I then ask if he had heard of a Steak & Shake coming to the Shoals area.
To my surprise he stated that he had not directly heard of one but that he's overheard enough and from enough people that he very much believes that a franchise store will be coming to the Shoals area.
The mayor of Muscle Shoals was one call he received and relayed that even the mayor was interested in some of the rumors that was going around. Now my feelings was that if it was factual that a Steak & Shake was coming to Muscle Shoals that the mayor should know without having to call the Decatur store.
Again time will tell but I hope the rumor is true and if it does come I hope it's highly successful and not like the IHOP venture into the Shoals area where poor management killed it before it ever had a chance.