Because when someone uses that phrase there is rarely just one single reason behind their decision & even if there was, saying "personal reason" would seem "suspiciously specific" even though the reason is not stated & would pique others' curiosity & invite speculation & assumptions.
It isn't a issue of grammatical correctness but social correctness.
When someone says "personal reasons" it simply means they do not wish to go into specific details, that is all.
It doesn't even mean something negative happened, the reason or reasons may be perfectly normal & understandable, (or even very boring) but the person may simply not wish to repeat them over & over to different people, (especially if the explanation is long & boring) so they might simply say "personal reasons" to save time (and attention spans).