EDIT: First, do what metro said, then if that doesn't work, try this stuff:
What operating system are you running?
A few solutions:
First, try defragmenting your harddrive. This can be done the following ways:
What you need to do first is check to see if your hard-drive with Steam installed on it has at least 16% of free space, preferably more. If it doesn't, free up some space. You need at least 16% to defrag.
Windows XP:
Start Menu > Control Panel > Administrative Tools > Computer Management.
From here, find the Disk Defragmenter on the left hand side. Right-click your hard-drive, and click "Defragment." Even if windows says it doesn't need to be done, do it anyway.
Windows Vista/7:
Click Start Menu, type "Disk Defragmenter," click the Disk Defragmenter option, find your harddrive, rightclick and select "Defragment."
Both Defragmentation options may take... a really long time. 4 or 5 hours, maybe more.
After doing that, restart.
Try Steam, and running TF2, and if the defragmentation didn't work, continue to the next step:
Try exiting Steam, rename clientregistry.blob to clientregistryold.blob in the Steam folder (C:\Program Files\Steam) and trying again.
If THAT didn't work, answer my original question, i.e. what operating system are you running, and your computer specs would be helpful as well.