I am almost two years into HRT (which is not much) and I have so far noticed following patterns:
- there were changes within first 3-4 months, mostly due to weight loss and excessive cardio workouts (which I was still able to do, because I still had T levels within lower male range) - just a note, but I cannot do that level of difficulty exercise anymore.
- there were constant but very subtle effects all the time, but I would only notice them when trying to put on something from older wardrobe and seeing that I have shrunk in some areas.
- this winter I did a lot of cardio workouts (treadmill jogging) and I saw results within a couple of weeks (mostly muscle loss on upper back areas and around ribcage).
I still see some problematic areas - mostly shoulders and trapezius muscle, but I have seen it myself and now firmly believe that this is a matter of time, exercise and dedication. And the main issue is that You never know how cardio exercise will affect Your body - in terms of which muscles will burn first...
I hope this helps