Is that the error message you see? "The Instrument File is invalid. GarageBand expects a valid Instrument Library folder in /Library/Application Support/GarageBand. Please choose a valid Instrument Library folder or quit and re-install GarageBand."
Probably the instruments Library is missing from your User Library or System Library or it is corrupted:
Check, if you still have an instruments library, either in the System Library:
/Library/Application Support/GarageBand
or in the User Library:
~/Library/Application Support/GarageBand
If you can't find those libraries, you need to reinstall them, either from your Time Machine backup from a previous system or by reinstalling GarageBand.
In OS Lion the libraries are hidden by default. To reveal them in the Finder, open the Terminal (from Applications -> Utilities) and type into the Terminal window:
chflags nohidden ~/Library; open ~/Library
sudo chflags nohidden /Library; open /Library
You may need to enter your administrator password to do that.
The above will permanently reveal the libraries. If you want to hide them again when you are done, enter the same commands, but set the flag to "hidden".
chflags hidden ~/Library
chflags hidden /Library
Your User Library you can reveal in Lion without changing the "hidden" flag frm the Finder -> Go menu:
When in Finder, select from the Finder menu "Go" -> "Go to Folder", then hold down the option-key until the Library appears in the drop-down menu, select it and enter "return".
Perhaps this article by Pondini will be useful for you to get started with Lion:
Pondini’s OS X Tips: Some Changes in Lion: http://Pondini.org/OSX/LionChanges.html
Regards
Léonie