Turm reopens your windows, tabs, splits and tear-offs where they were, with each shell back in its folder, its finished commands as blocks and its own command history. Open diff and file panes and the file sidebar return too.
Programs that were running are not restarted. An SSH shell comes back pointing at its host and waits for you to reconnect, and a folder that no longer exists opens its nearest parent with a note saying so. It is on by default, and a switch in Settings turns it off.
The saved files are in Application Support, readable only by you and kept out of backups. They can contain command output, so Clear Saved Workspace removes them.