The Terraform moved block is a new feature introduced in version 1.1.0 that provides a straightforward way to refactor resources by explicitly mapping old resource addresses to new ones, reducing the risk of losing state or manually managing imports during renames or moves. The syntax of the Terraform moved block is used within a module's moved section to declare the migration of a resource or data source from one address to another, handling resource renaming or movement across modules and making state management seamless. It can be useful for renaming resources, reorganizing modules, refactoring module names, changing resource block types, splitting or consolidating configurations, and moving resources between providers. However, it has some limitations, including manual specification, resource renames only, static declaration, limited to planned changes, requires state compatibility, and only supported in Terraform 1.1+.