A B737-300 FLT CREW ENCOUNTERED UNFORECAST HAIL; WINDSHEAR; AND MICROBURSTS ON APCH TO LIT. THEY DISCONTINUED THE APCH AND DIVERTED TO MEM.

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FLYING TO LIT IN A B737-300. OUR DISPATCH RELEASE SHOWED THAT NO ALTERNATE WAS REQUIRED DUE TO THE WX CONDITIONS IN LIT AND A PLANNED ARR FUEL OF 7.6 INTO LIT. ON DSCNT PASSING THROUGH 10000 FT; ATC INFORMED US DEGRADED WX CONDITIONS AT LIT. ON OUR FIRST APCH TO RWY 22R; ATC NOTIFIED US OF WINDSHEAR; MICROBURSTS AND HAIL AT THE ARPT; SO WE DISCONTINUED OUR APCH AND HEADED BACK OUT. AFTER A RWY CHANGE TO RWY 4L; WE DECIDED WE DID NOT HAVE ENOUGH FUEL TO DIVERT TO TUL; SO WE DECIDED TO SHOOT THE APCH TO RWY 4L. DUE TO GUSTING WINDS IN EXCESS OF 50 KTS; HAIL; WINDSHEAR AND MICROBURSTS RPTED BY THE TWR; WE DECIDED IT WOULD BE UNSAFE TO LAND IN LIT. AGAIN WE DISCONTINUED THE APCH WITH ABOUT 5000 LBS OF FUEL REMAINING. AT THIS TIME WE WERE TRYING TO COORD WITH ATC TO DIVERT TO THE CLOSEST SUITABLE ARPT. AFTER BREAKING OUT OF THE ALTERNATES PACKAGE; THE 2 ARPTS SUGGESTED WERE HOT SPRINGS; AR; WHICH WAS ONLY 25 MI AWAY WITH A 6500 FT RWY; OR MEMPHIS WHICH WAS 135 MI AWAY WITH A LARGER RWY AND MORE SUITABLE FOR HVY ACFT. THERE WAS AN FAA JUMPSEATER IN OUR COCKPIT AND IT WAS DECIDED WE WOULD DIVERT TO MEM. WE LANDED UNEVENTFULLY IN MEM WITH ABOUT 3.5 ON THE FUEL. UNEXPECTED WX CONDITIONS IN LIT ALONG WITH NO PLANNED ALTERNATE AND/OR NO ADDITIONAL FUEL WERE CONTRIBUTING FACTORS TO THIS EVENT.