I had the problem as I ran the low fan speed all the time on my 87 and 88 TR4. On mine, it was the fan speed resistor for the blower fan. Don't bother taking the dash apart, it's not there. The resistor is located in the fan box under and behind the glove box. Just stick your head under the glove box area and look at the bottom of the fan box and a little toward the front of the firewall.
You will see a small hatch and I think one screw to hold it in, maybe two. Take that out and unplug it, you will see three resistor, one for each fan speed. You can tell if its broken if the wires wraped around the ceramic rod is broken. Or if you have a ohm meter, you can check for continunity. I think the dealer sells it for $20 or something or find a junk yard.