Intermetallic γ-TiAl based alloys are innovative lightweight structural high-temperature materials used in aerospace and automotive applications due to already established industrial-scale processing routes, like casting and hot-working, i.e., forging. A promising alternative method of production, regarding manufacturing of near net-shape components, goes over the powder metallurgy route, more precisely by densification of TiAl powder via spark plasma sintering. In this study, gas atomized powder from the 4th generation TNM alloy, Ti-43.5Al-4Nb-1Mo-0.1B (in at.%), was densified and the microstructure was investigated by means of electron microscopy and X-ray diffraction. The sintered microstructure exhibits lamellar α-TiAl /γ-TiAl colonies surrounded by globular γ- and ordered β-TiAl phase. The coarse lamellar spacing stems from the low cooling rate after densification at sintering temperature. Against this background, subsequent heat treatments were designed to decrease the lamellar widths by a factor of ten. Accompanying, tensile tests and creep experiments at different temperatures revealed that the modified almost fully lamellar microstructure is enhanced in strength and creep resistance, where a small volume fraction of globular γ-phase provides ductility at ambient temperatures.