Phase composition, mechanical properties, and variation of the density of cold-deformed Fe-Cr-Ni-Mn steels differing in the stability of austenite are studied. A comparative analysis of formation of phase composition and accumulation of discontinuities in the process of drawing of stable and metastable austenitic steels is performed. The effect of post-deformation annealing on the variation of the density and mechanical properties is considered. The capacity for recovery of the density is shown to be correlated with the resistance of the studied thermomechanically hardened steels to fatigue fracture. The determined dependences are explained.