I don't know how exactly "space" comes to your mind... A scene graph is just a data structure. Like an array or a linked list, but in tree form. On its own, it does not have a physical representation in the world, it's not even space. The scene graph expresses a relation between different objects in a game.
If you forcefully want to assign a meaning to the scene graph itself (and not the nodes), the most meaningful term is "scene", as already mentioned above.