We describe a low-temperature approach to the two-dimensional half-filled Hubbard model which allows us to study both antiferromagnetism and single-particle properties. This approach ignores amplitude fluctuations of the antiferromagnetic (AF) order parameter and is valid below a crossover temperature ${T}_{X}$ which marks the onset of AF short-range order. Directional fluctuations (spin waves) are described by a nonlinear sigma model $(\mathrm{NL}\ensuremath{\sigma}\mathrm{M})$ that we derive from the Hubbard model. The parameters of the $\mathrm{NL}\ensuremath{\sigma}\mathrm{M}$---the spin stiffness and spin-wave velocity---are calculated as a function of the Coulomb repulsion U. The $\mathrm{NL}\ensuremath{\sigma}\mathrm{M}$ is solved by a saddle-point approximation within the ${\mathrm{CP}}^{1}$ representation where the N\'eel field is parametrized by two Schwinger bosons. At zero temperature, there is always Bose condensation of the Schwinger bosons, which signals AF long-range order for any value of the Coulomb repulsion. At finite temperature, the AF long-range order is suppressed (in agreement with the Mermin-Wagner theorem), but the AF correlation length remains exponentially large. In the ${\mathrm{CP}}^{1}$ representation, the fermion field is naturally expressed as the product of a Schwinger boson and a pseudofermion whose spin is quantized along the (fluctuating) N\'eel field. This allows us to write the fermion Green's function as the product (in direct space) of the Schwinger boson propagator (which is derived from the $\mathrm{NL}\ensuremath{\sigma}\mathrm{M})$ and the pseudofermion propagator. At zero temperature and weak coupling, our results are typical of a Slater antiferromagnet. The AF gap is exponentially small; there are well-defined Bogoliubov quasiparticles (QP's) (carrying most of the spectral weight) coexisting with a high-energy incoherent excitation background. As U increases, the Slater antiferromagnet progressively becomes a Mott-Heisenberg antiferromagnet. The Bogoliubov bands evolve into Mott-Hubbard bands separated by a large AF gap. A significant fraction of spectral weight is transferred from the Bogoliubov QP's to incoherent excitations. At finite temperature, there is a metal-insulator transition between a pseudogap phase at weak coupling and a Mott-Hubbard insulator at strong coupling. Finally, we point out that our results straightforwardly translate to the half-filled attractive Hubbard model, where the $\mathbf{q}=(\ensuremath{\pi},\ensuremath{\pi})$ charge and $\mathbf{q}=0$ pairing fluctuations combine to form an order parameter with SO(3) symmetry.