Highly unlikely to move anywhere. I've been in Adelaide for years and every now and then some nob pops up with the sell off Parafield bit. When you actually look into it deeper you find these same people have vested interests such as developers or local traders that have a wish list.
The airport operators have a lease ( I thought for 99yrs but might be 50) which a condition of is it has to be retained as an airport. The lease holder is allowed to sub lease certain areas for commercial development and that is why you see Bunnings etc on the boundarys. In any even even if the lease was recinded there would be probably more people protesting for it's retentsion as who wants another urban sprawl? Not in tune with current planning techniques where you have open buffer zones between suburbs for water recyling and catchment/wetlands etc. So a GA airport fills the bill nicely.