Updated September 2017 (screen shots are from Blender 2.78)
Blender - looks to be a pretty amazing 3D image and video rendering tool; open source, free, no watermarks! On the other hand with power comes complexity; its user interface is not intuitive for the newbie. At first glance it seems overpowered for time-lapses, a bit like walking into an auto mechanic's workshop when all you want is an adjustable wrench. But almost any new software takes a little bit of use to become familiar with it, even Windows Movie Maker. Still having trouble with the final quality on vimeo.
Here's one way to create a time-lapse from a series of stills (copied from YouTube user SuperPepperMint 1 minute speed demo):
BUT FIRST AN OVERVIEW emphasizing that Blender works in layers (strips) using a sequencer:
DETAIL:
1. basic time-lapse only
2. Add audio and titles
I pulled the following from the tutorial by MickeyCal Myers (https://www.youtube.com/watch?v=Q-qMPzhFNwg) 2:56 is where this comes in.
Additional thoughts: