A few months ago, Google changed over its default keyword tool in AdWords to a new version. You could still use the previous interface up until today, but that link has now gone, so we are left with no choice but to use this new tool for keyword research.
Many people have complained about the search volumes in the new interface, after finding them to be significantly different to the previous stats. If you are stumped by the new tool, wondering why all of a sudden your market looks like a fraction of what it once was then this explanation, left on the AdWords help blog, should shed light on the issue:
"If you use both the previous and updated versions of the Keyword Tool to search for keywords, you may notice differences between the tools for statistics on Global Monthly Searches and Local Monthly Searches. This is because the previous version of the Keyword Tool provides search statistics based on Google.com search traffic and traffic from search partners, while the updated version of the Keyword Tool provides search statistics based on Google.com traffic only. We've updated these statistics based on user feedback, and hope you find them helpful for keyword selection."