Time machine project backup

In FCP 7 I use to have my project files on my internal hard drive and my media on an external. I used time machine to backup my projects so i could just recapture the media if someting hapened, at least all my edits were saved. Now in order to backup I have to copy everything to my internal becasue when moving a project between libraries it moves media with it and that eats up my time machine drive. Is there a way for time machine to backup my projects only, without backing up media as well?