As your save file increases with every quest you go on, with every chest you open (in certain places, I think the loot is randomly generated within certain parameters) and as you "discover" and move things around in the game world, your save file now has more things to keep track of, that are changed and discovered around the game world.
More things to keep track of include: pots and pans you've knocked over in a keep, loot you have stashed at home, bodies lying out in the wilderness, that dragon skeleton that keeps re-spawning and flopping around, dungeons you've cleared, people you've killed or befriended, your reputation in each town, goods bought and sold from vendors / merchants etc, each little thing altered and discovered make the file grow larger and larger and larger. And as you enter and re-enter areas, the system begins to struggle with available system resources to load the game world, to stream textures, and sound, and to keep track of things altered in your save file as well... and of course it begins to stutter and struggles to stream what its grabbing off the ram (or what it's grabbing off the cached memory on the harddrive).
Feel free to correct me if I'm getting the specifics of how virtual memory works, incorrect.
I'm no expert and everything I just could be 200% wrong

