Replanting
Replanting where the stump was
It can, as long as the new tree goes a little to one side of the old spot, or the stump is deep ground and the chips are cleared so the new roots start in soil.
The old roots rot below grade for years, and fungi that colonize a stump, such as Armillaria root rot, also called honey fungus, can spread through the soil and attack the roots of a healthy young tree. "Deep grinding" goes well below standard depth for exactly this reason: to make room for a replant.
Planting is digging, so contact 811 Before You Dig a few business days ahead. Once the tree is in, it needs proper long-term care before it gives what trees are planted for, and TreesAreGood.org from the International Society of Arboriculture explains that care.