In a blog post, Richard Justice says "The Astros are right to pass on Tejada."
The Astros might have had some interest at the beginning of free agency, but apparently Miggy wanted more money than the Astros were willing to spend. Now Ed Wade has pushed the payroll about as far as Drayton McLane is willing to go. He talked him into Brett Myers, and that probably did it as far as this off-season's significant spending.
The Astros finished last season needing home runs and pitching. Tejada provides neither...
...It would be one thing if the Astros were applying patches with the hope of winning a championship. They're trying to be respectable. Even as they try to remain respectable this year, it'll be interesting to see how their young players progress. Miguel Tejada would only get in the way of that progression.