I think it makes you hold water as more blood volume, it should also help you to shed some creatine gained pounds, I found the same thing happend to me, I was alot more lean before I took creatine. Creatine helped me make some sweet muscle gains, but it also put on a little fat layer, so as my creatine runs out this week, I’m going to go off it until I shed the excess weight gained (non muscle) and get back to my lean self with some awesome new muscle definition. I think my abs are really going to start showing :D
The water stored in your muscles from creatine will also gradually subside once you stop taking it. But I heard it can take a month for your creatine levels to drop back to normal.