When I changed the passanger side trailing arm (the complete arm). I used a spring compressor to compress the spring. Also the exhaust system runs on that side and interfered a little with my room.
I dose look like you might be able to swing the ends where the rubber bushings are down and have enough room to change them. (there is a metal tab that also interferes with the arm going down). This could break the plastic sway bar links so I would remove those. If you need to disconnect the axle at the wheel hub that should not be a problem as only one through bolt holds it in the hub.
The nuts/blots on the Trailing Arm Bushings were really tight on mine.

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84 300D, 82 Volvo 244Gl Diesel