I believe it will continue to encourage the Tea Party and they will probably wrongly assume that because he lost, this is what the American people want. I don't think they can logically see that this is only small pocket of people that side with them and not the entire United States. This only seems to hurt the Republican Party.
The Tea Party has been taking a few hits lately. Cantor was the second highest ranking Republican, and a heavy favorite who way outspent his opponent. It was widely assumed that he'd win without much of a struggle. Therefore his defeat will give the Tea Party some new life and reinforce it's perception of itself as "mavericks"
I think that the defeat of the Republican Cantor will reenergize the Tea Party. I think that it is something that they will see as a significant victory for their beliefs and policies. I see this being just one of the many victories that the Tea Party will try to gain momentum from.
This defeat does not signify anything of great importance politically. The Tea Party is not either energized or defeated by a single race. The Tea Party will remain a political "third wheel" for a long time to come, despite a solitary candidate's defeat or victory. The party is far too organized and funded to remain quiet for long, and on their own accord.