There's been an unhealthy amount of chatter about the Falcons signing Chris Johnson lately. He's not the running back he once was, and the Falcons have plenty of reason to look to the future. They've already got one aging running back on their roster, and this draft offers a wealth of running back talent.
That said, even if he doesn't fit into the Titans' plans going forward, Johnson's still a capable football player. At the right price, he will find a job. Just not with the Falcons.
In short, the Falcons had other priorities. With the Dwight Lowery and Josh Wilson signings, the Falcons ate up money they'd have undoubtedly needed to have any shot at Johnson. In their minds, secondary depth is clearly a priority right now. Adding an aging running back with occasional attitude problems is not. Respect.