The Tenth Amendment Center doesn't think so. Their newsletter, published over the weekend, produces strong legal arguments that the framers of the Constitution meant commerce to have a very narrow meaning -- essentially, trade. However, the Supreme Court and some "living Constitution" legal scholars have expanded the concept to the point that (they argue) the Feds can control anything by calling it commerce.
A test will be coming, however. Tennessee gun shop owners received this letter from Carson W. Carroll, deputy director for enforcement activities of the Bureau of Alcohol, Tobacco, and Firearms. asserting that Federal law supersedes Tennessee's HB 1796, 106th Legislature; which states that exempts from Federal law personal firearms, firearms accessories, and ammunition that is both manufactured and sold within Tennessee (making it intrastate commerce). Mr. Carroll, naturally, takes exception to that.
Mr. Carroll needs to be reminded that Federal firearms law is itself subject to Article I, Section 8, Clause 3, of the United States Constitution. I hope a gutsy Tennessee county sheriff will enforce the State law against any Federal agents that try regulations contrary to the Tennessee act.
Virtual buckeye to Gabe McGranahan.