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As a recent law school graduate who is slated to start at a firm after passing the bar, is it a faux pas to not attend a large firm social?

My mid sized firm invited me to their largest annual social for all the attorneys in the firm. I attended last year when I was a summer associate. However, I informed them that I would not attend this year because of an important family function that happens to be the same night.

I do not remember seeing any people in my current position at last year's social. At least one other person from my entering class is also not attending because he is studying for the bar in another state. But my firm does know i'm back in the state and i'm not sure if the expectation is different with me.

How bad does this reflect on me?

No one will care, and honestly it's likely that no one will even notice. You did the polite thing telling them you can't attend due to a family function, plus it sounds like you're in the middle of studying for the bar, and there's almost no way they will even remember that you didn't come to this by the time you start. Sure, if you showed up they'd be happy to see you, but there's almost no expectation that you attend.