my university is imploding and I'd just as soon not be the last man standing.
Good answer.
Do you really want to work there?
I have a friend that hates his current job. The city is not right for him. Friday afternoon meetings "whether we need one or not" are not right for ... well ANYONE but the egomaniacal dean. ... Anyway, the best thing is to leave. If you were granted tenure, would you really be all that motivated to find a better fit?
Let the dust settle, but look back at this in a while and Im sure that you will see that you are happier that you left than you would have been had you stayed.
Polish your cover letter, ready your resume, and put on a happy face! Things are looking up already.
