It's hard for me to compare the two programs directly, as I don't know all that much about UTSW. On the plus side, it has warmer winters than Minneapolis.
As for the Hennepin-Regions program, I can say that I truly enjoyed my time training here. If you're looking for a solid foundation in community psychiatry, the program ought to meet or even exceed your expectations. If you're planning to attach yourself to a research powerhouse, I'd suggest looking elsewhere. I think that the residents (as a whole) are generally fairly happy and come from a number of different backgrounds (with both US and international medical graduates represented among each class). As might be expected, call is heaviest in the first year and tapers off nicely from there. Staff have the "Minnesota Nice" thing going for them, and most faculty are able to strike a comfortable balance between offering teaching points and helping residents gain confidence & autonomy in their decision-making processes. There is a new program director this year who, in addition to being a past graduate of the program, also seems to be bringing a lot of positive energy and enthusiasm to the table.
Aside from all that, the Twin Cities are truly a fantastic place to live, work, and play. As Garrison Keillor once put it, this is a place "where all the women are strong, all the men are good-looking, and all the children are above average." And if that's not a winning combination, I don't know what is. ;-)
Good luck to you this interview season!