When you place a Visual Studio solution into TFS or pull it down for the first time a default working path is set in the workspace mappings. There are times when you need to point source code to a new location. Once option you have is to simply use the Manage Workspaces dialog to edit the local folder for the your solution.
Select your workspace.
Click on the Local Folder and an ellipse button will appear to allow to set a new folder.
The problem with this approach is that it doesn’t seem to consistently cascade to all the child items. The alternative is to use the Remove Mapping dialog, change the Local Folder and click the Change button.
This approach is very affective when remapping child folder locations but be aware of the fact that when you use this approach it will move the files from the original path to the new path. If it is important that the file stay in the original location you will need to back them up first and copy them back after the remapping. You will have to work with these options to see which works best for your situation.