No, tbl = {} creates a brand new table (with a new reference in memory) and assigns it to your variable tbl. The previous table you were using is no longer assigned to tbl. Since it is not referenced by a variable, it goes on the heap to be garbage collected.
If you're doing this often, it creates tons of extra, new tables, and makes the garbage collector churn repeatedly to get rid of the old ones.
Best bet is to wipe the first one and reuse it.
/edit: here, see this example:
Code:
> tbl = {}
No output
> tbl.a = "one"
No output
> tbl.b = "two"
No output
> print(tbl)
table: 0x932ed18
> tbl = {}
No output
> print(tbl)
table: 0x82c0c88
You can use this to see for yourself:
http://wowprogramming.com/utils/weblua
/edit-edit: you're right, that normally we would do tbl = {}, but Blizzard added the wipe() function for the purpose of eliminating the garbage.