1. Close All Instances of SSMS 2012
2. In Run Command, type "%AppData%\Microsoft\SQL Server Management Studio" and it will open a folder like "C:\Users\{User Name}\AppData\Roaming\Microsoft\SQL Server Management Studio".
3. Rename the "11.0" folder to "11.0.Issue"
4. Open SSMS 2012 and new folder "11.0" would be created in the above path.
5. Open database objects like SP and don't see any hanging in SSMS 2012.