Until now!
Sometime late yesterday, Valve created a new opt-in beta in Steam for TF2 which includes a "very early build" of a revised Hammer editor. It's virtually identical to the old one, except it works with the new Steampipe files. As it is at an early stage, however, there are a number of steps that one must take before it will work properly. I'll do my best to outline them here, but please note that there may be errors or unintentional omissions...
Note that you will still need the defunct Source SDK installed when following these steps, so don't uninstall it!
UPDATE 5/5: Added a new step between 4 and 5 which fixes Hammer being unable to edit displacement alphas.
STEP 1: Opt into the Beta
Right-click on TF2 in your Steam library and select Properties. From there, go to the Betas tab, and in the drop-down list select "sourcesdk_beta." TF2 should download a small update after you do this.
STEP 2: Set up the VPROJECT variable in Windows
Right-click on Computer in the Start menu (or My computer on slightly older Windows OSes) and go to Properties -> Advanced -> Environment Variables. Find the entry for VProject and change the path to your TF2 game directory (for example, [...]Steam/steamapps/common/Team Fortress 2/tf. This file is created by and used solely by the Source SDK, so as long as that's the only thing you touch, you aren't actually messing with anything your computer needs to run.
STEP 3: Editing Gameinfo.txt
Gameinfo.txt is a file in your TF2 directory (in the tf folder typically). You should see this near the top:
Code: Select all
FileSystem
{
SteamAppId 440
Code: Select all
FileSystem
{
SteamAppId 440
ToolsAppID 211
STEP 4: Configuring Hammer
DON'T use the Source SDK frontend to open Hammer - it no longer works properly, no matter what you do with it. Instead, there should be a new version of Hammer located within your steamapps/common/Team Fortress 2/bin folder (or the bin folder wherever TF2 is installed at - NOT the bin folder within the Team Fortress 2/tf folder, but the one in the Team Fortress 2 folder itself), simply called hammer.exe.
Once in Hammer, go to Tools -> Options. In that window is a box with buttons that say Add, Edit, and Remove. This area is where you tell Hammer where to find the .FGDs for the game you're mapping for (TF2, obviously). The .FGD allows Hammer to find all the materials, props, and entities used by the game, and Hammer is quite useless without it. Even if there's already an entry there, it's probably best to remove it (I'll bet you can figure out how with the buttons there

STEP 5: Re-add the displacement-painting brushes
Find the folder steamapps/[username]/sourcesdk/bin/orangebox/bin/filters, and copy the folder itself (not just the files inside it) to steamapps/common/Team Fortress 2/bin. This will fix Hammer being unable to edit the alphas on displacements. (Displacement alpha painting allows for the fancy blending of textures, as well as the 3D-looking detail elements that appear on the ground in certain maps, such as the flowers and tufts of grass in alpine maps.)
STEP 6: Restart Hammer and test things out
Restart Hammer so that it will load up those .FGDs, and then check to make sure that things are running properly. As best I can remember, these were all of the steps I had to take to get Hammer back up and running. Hopefully I didn't miss anything - please let me know if something is wrong when you follow these steps!
Common Problems
There are a few issues that may/will come up when doing this. Here are some of the ones I encountered and was able to fix:
"The default scheme file could not be loaded."
This is the most common error that pops up when doing this. If it crashes Hammer, chances are something down the line wasn't configured properly - the most likely culprit is step 3. If it doesn't crash Hammer, keep going and see if things still work, because there's a chance that it isn't worth worrying about if Hammer is still running.
Models and/or entities show up as yellow circles that say "Obsolete" beneath them
Your .FGDs aren't loaded properly. Re-check step 4 to find where the error lies. Maybe you didn't delete the original .FGD entry that was there when Hammer was opened?
Models show up as giant red "ERROR" letters, and textures are just varying shades of solid gray/white
This happened to me whenever I tried to run Hammer through the Source SDK frontend. Use only the .EXE in the Team Fortress 2/bin folder - the old one that the SDK runs is kaput.
Models in the 2D view have the purple-and-black checkerboard texture on them
This is a known bug in the new Hammer. All we can do right now is live with it. It's annoying, but it doesn't affect the program's functionality in any way, so it's best simply to ignore it.
Maps do not compile properly, despite no errors made when building the map
First, make sure that it really isn't an error in your map itself. If that still doesn't work, there have been reports that the new versions of VBSP, VVIS, and VRAD, the Source compiling trio, flat-out don't work properly. Unfortunately I have no idea how to fix this as I found them to work fine once Hammer was all configured. Sorry I can't really be of help on this one if it's affecting you...

Sources
A lot of this info comes from this Github posting and this thread on TF2Maps.net. Neither of them had a step-by-step tutorial like this one though!

I hope this could help someone out. Valve seems to be on the case with their broken modding tools, and this is a big step towards a properly-working TF2 Steampipe SDK. Happy mapping!