Yes, there is, but at the cost of some minor distortions and careful layout design. What you can do is drop your high-res drawable into drawable-nodpi; Android will pull the drawable from that folder without scaling. Next, create a series of dimension files, dimens.xml, for the various screen sizes. For example, for normal size screens:
<resources>
<dimen name="dim_0dp">0dp</dimen>
<dimen name="dim_1dp">1dp</dimen>
<dimen name="dim_2dp">2dp</dimen>
<dimen name="dim_3dp">3dp</dimen>
<dimen name="dim_4dp">4dp</dimen>
<dimen name="dim_5dp">5dp</dimen>
<dimen name="dim_6dp">6dp</dimen>
<dimen name="dim_7dp">7dp</dimen>
<dimen name="dim_8dp">8dp</dimen>
<dimen name="dim_9dp">9dp</dimen>
...
</resources>
And, the resource file for a sw-600dp tablet will look like this for example:
<resources>
<dimen name="dim_0dp">0dp</dimen>
<dimen name="dim_1dp">1.5dp</dimen>
<dimen name="dim_2dp">3dp</dimen>
<dimen name="dim_3dp">4.5dp</dimen>
<dimen name="dim_4dp">6dp</dimen>
...
</resources>
Then, every where in your layout that you use an ImageView or you set the background using a drawable, make sure to specify the width and height based on your dimens file. For example:
<ImageView
android:layout_width="@dimens/dim_10dp"
android:layout_height="@dimen/dim_20dp" />
So, on a phone, the image will get scaled to 10dp and 20dp; whereas, on a 600dp tablet it will get scaled to 15dp and 30dp. This means some minor distortions but since you are scaling down and not up, the distortions are minimal and hard to detect to most users.
This was a strategy we used for shipping three successful games, otherwise our APK would've been massive.