Absolutely! They're huge blossoms, they thrive in the Southeastern US, and their aroma is intoxicating!
Also, large Magnolia trees are ideal for climbing. I have a Magnolia in front of my house that may be the largest I've ever seen. The trunk (at ground level) is at least 7ft in diameter. I can't call the area "my front yard" because the tree, its branches, and its offshoots take up the entire space-- nearly half an acre. Being under its canopy is like being in another world.