Parts of Columbia rained down on east Texas and western Louisiana in 2003. This object is only slightly smaller than that and probably won't have as much velocity as the Space Shuttle did at re-entry so the heat resistant parts of the engine most likely will make it to Earth. Obviously the whole thing won't come down intact or even in pieces the size of Pan Am 103, but getting hit by even a piece the size of a juice glass with that kind of velocity can do some real damage.
As JLAmber mentions, the odds of being under the debris shower are extremely small but the chances of it hitting something man made are a bit higher. When the Space Shuttle broke up on re-entry there were a few structures that got hit but no person got touched and there were a lot of pieces on the ground. Hopefully, like one of it's sister boosters it will come down along one of the many watery paths along its re-entry path.
What's the point of an open door policy if inside the open door sits a closed mind?