If the T-stat is bad it could be stuck open therefore not letting the engine heat up and never reach it's normal operating temperature. Or it could never open and not permit coolant to enter the block to cool the engine therefore it would overheat. But in your case dkautumna it sounds like you have a T-stat that is stuck open, which is just as bad as one that wont open.
MikeTD the T-stat isnt that hard to do at all. It shouldnt take more than an hour or so.