Low-temperature plastic flow in TRIP steels has been found to be controlled by stress-assisted isothermal martensitic transformation. For these conditions, the thermodynamics and kinetic theory of martensitic transformations leads directly to constitutive relations predicting the dependence of flow stress on temperature, strain, strain-rate, and stress-state, consistent with the observed behavior of TRIP steels. Guidelines are obtained for the control of temperature sensitivity, tr-e curve shape, and stress-state effects to achieve novel mechanical properties.