A textile sleeve for routing and protecting elongate members and method of construction thereof is provided. The sleeve includes an elongate, braided wall having a circumferentially continuous, tubular outer periphery extending along a central axis between opposite open ends. The wall includes shrinkable yarns and non-shrinkable yarns. The shrinkable yarn provides the wall with an ability to be radially contracted from a first, diametrically enlarged assembly state to a second, diametrically shrunken state.