Jamie, Spanish Cedar (like almost all “cedars” from the Americas) is not a real cedar. It is similar in many ways to Honduran mahogany and is quite stable - especially when dried well and taken care of. I’m sure if we did some industrial testing we would realize that genuine mahogany is probably significantly stronger in most respects. However, it can typically be used interchangeably in guitars.
One side bonus is that if Spanish Cedar does get more humidity, it will be more redolent.