Edit: Beaten by seconds... I knew I shouldn't have found that link...Organically Organized
Thanks to the speed and flexibility of Spotlight, you will discover countless new ways to organize your files. Take the results of a search and save it as a Smart Folder that automatically updates as you add or remove documents from your Mac. Smart Folders contain files grouped together based on search criteria instead of physical location, so the same file can appear in multiple Smart Folders without moving from its original saved location on your system. No need to duplicate, shift or update files: Spotlight Smart Folders keep everything organized for you.