Another option is to trick Windows/Steam using symbolic links. This is the method I use to keep my games on my 1TB drive, but Steam itself on my SSD.
Simply make sure Steam is closed, then cut and paste the entire steamapps folder to the new HDD. After it has finished, hit the windows-key, search "cmd", right-click it, and select "Run as administrator".
In command prompt type in the following (make sure to use the correct paths for the the old and new locations):
mklink /j "C:\Program Files (x86)\Steam\steamapps" "D:\steamapps"
This will create a symbolic link, tying the two locations together - fooling Steam into thinking nothing has moved, while actually keeping your data on the new drive. This change will work even when installing new games, too. They will install correctly in the new location without any extra work.