In the last interview lead developer Andrew “Redigit” Spinks revealed that update 1.3 is the last update he worked on.
Don’t worry, 1.3 update isn’t the last update for Terraria. Updates will be now worked by the rest of the Re-Logic team.
This will be the last update that I work on personally so it is hard to say what the future holds. That decision will be left up to the team that continues to work onTerraria. We like the idea of switching to smaller more frequent updates moving forward.
Also updates should now come more frequent to Terraira, but they are going to be smaller. The reason or the reasons why Andew will not work on the game anymore is that Terraria 2, Terraria: Otherworld are coming out and in the future we can expect mod support for original Terraria