All files disappeared on local drive, folder are still here
Time Machine is the only built in recovery solution, so the file changes are not logged in a way you could guarantee a trace of what happened if you didn't configure Time Machine to make external and/or local backups.

If you shut down the computer soon after you discover missing files, sometimes you can use software to look at free space and reconstruct missing files. That tends to work better on HDD as opposed to SSD, but some recovery is often possible. Not having the machine on actually increases the odds of recovery since you are counting on no other program over-writing the free space where those files used to be stored.

I'd start with something like Data Rescue if you want to try to recover any files.



Once you've decided to not seek recovery or you've done the recovery, you might check the storage in Disk Utility to see if the catalog needs repair.