Maybe, but I see some issues: you'd end up with some hashtags that were ambiguous in whether they were location-based or not (the village of #Seaton is next to the village of #Beer for example, I kid you not...)
And you'd also have the issue of differing scales - do I subscribe to #SeafieldRoad, or #Seaton, or #Dorset? The dream goal for me is a system where I could paint onto a map the area within which I'd like to subscribe (with ability to control the brush size!)
#seaton #beer #seafieldroad #dorset