There are various controls that nature has for forest tent caterpillars.
When winter temperatures fall below -40 C/F degrees, the eggs in their overwintered egg cases are more likely to be frozen and destroyed.
Naturally occuring bacteria, especially Bacillus thuringiensis or Bt is very effective at destroying their guts. The kurstaki strain of Bt, better known as BTK, and available at garden centres is probably the number one best way for home owners to protect their trees and shrubs from tent caterpillars.
Also in the wild, there are at least four species of parasitic flies that prey on these caterpillars, as well as various viral diseases that limit their numbers.
Over sixty species of birds, including Baltimore Orioles, Blue Jays, various warblers and Black Capped Chickadees are known to eat these caterpillars.
Frogs and mice also take them as food.
And bears can eat a tremendous amount of tent caterpillars in a 24 hour period.
There are no doubt other predators and parasites that limit tent caterpillar's number in nature, but the above are just a few that i am aware of.
dvg