Vegetation primarily draws water from soil moisture (SM), with restoration in drylands often reducing SM storage (SMS). However, anomalies have been detected in the Beijing–Tianjin Sand Source Region (BTSSR) of China via the Global Land Data Assimilation System (GLDAS) and Gravity Recovery and Climate Experiment (GRACE). This study quantified the sources of increased SMS in drylands to elucidate the effects of vegetation restoration on SMS. The results indicated the following: (1) In vegetated drylands, 46.2% experienced a significant increase in SMS while 53.8% remained stable; both were positively correlated with the normalised difference vegetation index (NDVI). (2) The increase in SMS was accompanied by a decrease in groundwater storage (GWS), as indicated by the significant correlation coefficients of −0.710 and −0.569 for SMS and GWS, respectively. Furthermore, GWS served as the primary source of water for vegetation. (3) The results of the redundancy analysis (RDA) indicated that the initial vegetation, the driver of the observed trend of increased SMS and decreased GWS, accounted for 50.3% of the variability in water storage. Therefore, to sustain dryland ecosystems, we recommend that future vegetation restoration projects give due consideration to the water balance while concurrently strengthening the dynamic monitoring of SMS and GWS.