Not far south of you, here in Florida, we had several years of drought. The old time residents told me about the bass fishing in all the lakes around here. The lakes that did not have big springs feeding into them, dried up and people were mowing the lake bottoms. We've had quite a bit of rain and some of the lakes have some small amount of water, but there's no fish in them.
Some of the lakes that did not dry up, but just got very low, had unbelievable amounts of weeds growing in that bare lake bottom muck. Now that there is more water, the weeds are going crazy. Some of the weeds that are really taking over is Alligator weed and Pike weed and some kind of really nasty grass mixed in. You can not fish in it. Punching rigs are a joke. You need dynamite to put holes in that stuff. I don't know if fish came swim in it or not.
So, to answer your question, yes, a drought can severely damage the bass population.