The midwest will see the storms first with severe weather hitting places from Davenport, Iowa to St Louis, Missouri. This area is under a level 4 out of 5 for all modes of severe weather. However, the primary risk will be wind gusts that might exceed hurricane force and very large hail associated with supercell thunderstorms.
The storms will then target the southern states with storms firing up as early as Saturday morning.
New Orleans, Louisiana to Birmingham, Alabama are under a significant risk area for severe storms. The environment over this area is conducive for long-track tornadoes.
The national weather service has placed millions in a 30% chance for seeing a tornado at any given point within a 25 mile radius.