According to the WaPo, the number of registered minority voters has declined significantly since Obama was elected in 2008. Adam Sorensen sounds the alarm:
Most people lose their registration when they move between communities, and those likeliest to pick up and leave town are young, a slice of the population Obama won by 34 points in 2008, and those displaced by economic hardship. Obama beat McCain among voters making less than $50,000 a year by 22 points, and only narrowly lost whites in that income bracket by 4 points. So on both counts, the registration losses fall hard on Obama.
The Obama campaign insists that "[r]egistration among Latinos and African Americans has never been higher." More on the importance of Hispanic turnout here.