Hey bryce255,
Thanks for the question, that definitely sounds frustrating. Luckily, we have steps available that may be able to restore your previous library:
No content shows up in iTunes after updating
http://support.apple.com/kb/TS1967
Resolution
1. Quit iTunes.
2. Download and install the latest version of iTunes.
3. Use the Finder (Mac) or Windows Explorer (Windows) to go to the iTunes folder that contains the iTunes library files:
Mac OS X
/Users/username/Music/iTunes/
Microsoft Windows Windows XP and Windows 2000
\Documents and Settings\username\My Documents\My Music\iTunes\
Microsoft Windows Windows Vista and Windows 7
\Users\username\Music\iTunes\
4. Drag the iTunes Library file from the above location to the Desktop.
5. Open the Previous iTunes Libraries folder in the iTunes folder.
6. Locate the file named iTunes Library YYYY-MM-DD where YYYY-MM-DD is the date you upgraded iTunes (Year-Month-Day).
7. Drag this file to the iTunes folder (the enclosing folder).
8. Rename this file to iTunes Library.
9. Open iTunes.
You should now see your missing content in iTunes.
If the above does not resolve your issue, you can learn about re-creating your iTunes library:
iTunes: How to re-create your iTunes library and playlists
http://support.apple.com/kb/HT1451
Thanks,
Matt M.