As far as I know there is no management command to drop all tables. If you don't mind hacking Python you can write your own custom command to do that. You may find the sqlclear
option interesting. Documentation says that ./manage.py sqlclear
Prints the DROP TABLE SQL statements for the given app name(s).
Update:
Shamelessly appropriating @Mike DeSimone's comment below this answer to give a complete answer.
./manage.py sqlclear | ./manage.py dbshell
As of django 1.9 it's now ./manage.py sqlflush
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