It doesn't matter how brilliant and well-published a law professor you are or how efficient an administrator at the law school. If there are not enough seats filled, you will likely be out of work, with no direction to comparable jobs. The number of applicants to law school continues to tank.
In The Walll Street Journal, Joe Palazzolo reports that in October 2014 there were 8% fewer takers of the LSAT than in October 2013. And the combined number for June and October 2014 is 43% less than the same periods in 2009. Here is that coverage, with stats cited from the Law School Admission Council (sub. req.)
The academic game is a very specialized one. Its skills and persona are not easily transferable to other lines of work. Sure, some of the unemployed professors and administrators will find homes in institutions with similar values. Those range from think tanks to foundations. However, the rest will have to face soul-wrenching professional change.
In the 1970s, when the Humanities market for college professors crashed (never to really recover again), my generation of doctoral students and non-tenured professors had to reinvent ourselves. Of course, most of us did. You got to pay the bills. But the socialization process had taken hold. That academic conditioning likely was a handicap for many of us.