I was getting this problem while downloaded the solution from TFS and opening first time on my application. It comes to the starting screen and says "Preparing soltion..." and it stays there for many minutes. Ultimately it didn't opens the solution.Solution
The solution of the problem in my case is following.
1. Go to solution file of your project and open in notepad.
2. Replace everything started with "http://localhost****" to empty "".
3. Now save this file opened in Notepad.
4. Open the solution in Visual Studio.
It should work.