My shop maintains 75 (f) year around. Heated and cooled always. I have to, to maintain a steady RH so my precision machines and tools don't rust or lose tolerance.
I used to work in precision robotics, designing pick-and-place robots and precision laser welding systems with picometer encoders (±0.000,000,000,7 inch), nanometer servo stabilities, and overall placement tolerances for our pick-and-place machines in the sub-micron (±0.000,004 inch) category. We did indeed have to keep our facility at a constant temperature, for those levels of precision.
Having worked in that field for several years, I have more than a few thoughts on this, but the first among them are:
1. We studied the cost of heating versus cost of cooling, and when crunched against our average temperature, building heat loss, solar gain, etc., we always found the most cost-effective constant temperature was around 63° - 67°F for our various buildings. This was great for working on your feet, the production folks loved it, but it made a cold environment for those of us spending much of the day at a desk.
2. Your climate might be even colder than where we were operating (Allentown PA), and 75F is awful warm for a shop, so you might do well to find a new lower constant temperature, if a constant temperature is even needed for your machinery.
3. Most of the major components on most machinery are either steel (11 - 12 ppm/°C) or iron (10.5 - 12.0 ppm/°C). So on something like a Bridgeport with a 30" center-fixed table, your total growth/shrinkage for a change of 20°F (10°C) is going to be only .0016 to .0018 inches at the extreme ends of the table. Moreover, if the shop were on a timed thermostat that got it back to near standard temperature during working hours, it'd be much better than that.
4. You don't really need constant temperature to keep rust at bay, you just need to ensure dewpoint always remains below temperature. This is matter of course in any air-conditioned shop, even my own where temperature is left to swing 50F - 85F while it's not in use. No rust here, because it's always dry conditioned air.
If you wanted to save some heating/cooling costs, you could probably get away with letting the temperature fall off as much as 20F at night, assuming your system has the horsepower to get back up to temperature in a reasonable time each morning, on a timed thermostat prior to working hours.
Even if temperature at opening time is 10F below nominal, you're looking at only a .0008" error at the extreme end of a 30" fixed-center cross-slide table assembly. That's usually not going to blow anyone's machining tolerances, unless you're doing precision optics stuff.