Despite being the Vegas favorite against Northwestern, the Wildcats entered the game as the ranked team after Michigan had fallen from the polls following the quiet loss to Nebraska two weeks ago. With the win, however, Michigan flipped situations with Northwestern, banishing the Wildcats to the "others receiving votes" category while jumping back into the polls as one of two three loss teams.
The three teams that beat the Wolverines are all ranked -- third, fourth, and sixteenth respectively -- and all three games happened away from Ann Arbor.
Not that this means anything really. Michigan has a game against Iowa at home next week that looks unlikely to provide anything of a bump up after the Hawkeyes have imploded down the stretch. Iowa has lost four straight coming into the game and needs two wins over the last two games to reach bowl eligibility. A win against Ohio State in Columbus could provide a substantial bump, but probably not enough to get Michigan to an at-large level in the BCS discussion.
Nope, Michigan just has to sit back and hope that Nebraska falters down the stretch with games against Minnesota and Iowa the only thing standing between the Huskers and Indy.