The recent history of the Shaar is dominated by the events of the Spellplague. During the Spellplague, the center of the Shaar collapsed into the Underdark, forming a vast sinkhole, hundreds of miles across, known as the Underchasm.
The fall of the Underchasm caused disaster for those settled near it. The subterranean dwarven city of Underhome (located on the eastern side of the Great Rift) was badly damaged by the collapse. Things got worse when drow displaced by the collapse of the Underchasm attacked the city and drove the dwarves out to the surface.
The dwarves were able to retake the upper sections of the city (including the seventy-foot-tall magical golden doors connecting Underhome to the surface) some years later, however the lower sections are still infested by drow who repeatedly carry out raids to test the dwarves' defenses.
Other races were also adversely affected by the Spellplague. The forming of the Underchasm stole plenty of fresh water that would otherwise flow through the Shaar. This, combined with a change in climate brought on by the Spellplague, led to the Shaar slowly deteriorating into a desert.
Things began to change for the better during the Second Sundering, when the Underchasm was closed. Once more, fresh water began to flow through the Shaar, and another shift in Toril's climate pushed things back to how they'd been before.
While the Shaar has once more begun to resemble a lush, bountiful savannah, many effects of the Spellplague still linger. The Shaaran tribes are a fraction of their former numbers, with certain tribes having been completely wiped out, their unique customs and cultures dying with them. Furthermore, drow continue to infest the deeper reaches of Underhome, and the wild elves continue to struggle to survive in the harsh lands of Elfharrow. Things may have changed for the better, but it will be a long time before the damage caused by the Spellplague is fully undone.