While creating a new project in TFS 2010, I was getting a timeout error that was pretty frustrating.

It would get far enough that the SharePoint site was created, but when it came time to upload the Microsoft Agile​ documentation, it would just time out.

It turned out to be my Nod32 antivirus which is really weird.

This post resolved my issue: https://social.msdn.microsoft.com/Forums/en-US/tfsadmin/thread/97c28590-d9cd-467c-a6f8-664d3ea051fd