Looks like a big coincidence, doesn’t it? After I mentioned my drastic drop in hits from Google in my gaming blog, Darren from ProBlogger makes a brilliant post called “What to do when your Google traffic disappears.
Go there. Read it. Now. But come back here, afterwards. 
One of the points Darren makes is very important - in an already successful blog or site, such a drop in Google search rankings (whether caused by the Google Sandbox or something else) can mean a drop in your earnings of 2/3 or more! 
What if your blog has been slowly but surely growing, and you’re starting to see some money, which causes you to see the “light at the end of the tunnel”… and suddenly, earnings drop down to a trickle, almost nobody comes from Google… it’s enough to make many people quit blogging, or at least hoping to one day make a living from it.
But, as Darren says, all of this - again, whether it’s the Sandbox or not - is temporary. It may take a couple of months, but you’ll get back to good positions in Google, eventually. Meanwhile, keep blogging, keep improving your blog, and get ready for the big comeback, when suddenly you’re flooded with hits. And clicks.
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I read Darrens post this morning, I agree not to panic. SOmetimes you can end up in the sandbox several times. I am by no means an expert, but I think if you submit your url to their url submission page, you are asking for a trip to sandboxland.
Well I tend not to panic, but it still is disappointing. My site recently went through this when I changed domains, but now I’m back ranking high. Just gotta be patient.