A robust processing route at low cost is an essential requirement for high-temperature materials used in automotive engines. Because of their excellent high-temperature properties, their low density, high elastic modulus as well as high specific strength, intermetallic γ-TiAl based alloys are potential candidates for application in advanced automotive turbochargers. So-called 3rd generation alloys, such as TNM™ alloys with a nominal composition of Ti-43.5Al-4Nb-1Mo-0.1B (in at%), are multi-phase alloys consisting of γ-TiAl, α2-Ti3Al and a low volume fraction of βo-TiAl phase. In this paper a novel hot-processing route, which is a combination of a one-shot hot-forging step and a controlled cooling treatment, leads to mechanical properties required for turbocharger turbine wheels. The observed strength can be attributed to the small lamellar spacing within the α2/γ colonies of the nearly lamellar microstructure. In order to analyze the microstructure and the prevailing phase fractions microscopic examinations and X-ray diffraction measurements were conducted. The mechanical properties were determined by hardness measurements as well as tensile and creep tests. The evolution of the microstructure during the hot-forming process is described and its relation to the obtained mechanical properties.