Relegation to the Championship has meant that Burnley have lost two key players in Kieran Trippier and Danny Ings this summer but manager Sean Dyche has moved on quickly to replace the duo by bringing in Matthew Lowton and Jelle Vossen.
With the rest of the promotion winning squad of 2013/14 intact, Burnley look a strong team ahead of the upcoming Championship campaign and Caldwell feels that his former side are in a very good position to earn immediate promotion into the Premier League.
"I don't sense a hangover from relegation at all. I don't think Sean Dyche is the type of manager who would allow that," Caldwell told the Lancashire Telegraph after announcing his retirement from professional football while with MLS club Toronto FC.
"The guys understand what's needed to get back there and they have more than enough quality to do that, hunger, and Premier League experience. It doesn't mean it will get any easier next season, but they are aware of what it takes and they can hit the ground running.
"Every year it seems to be a tougher league to win and get promoted from, but they've got the guys up understand that. We weren't stable as a club last time. We made some errors and it was difficult for a couple of years after that.
"This time the guys believed they had a great chance of staying up, but they have accepted going down and they have the right mentality and the right manager to keep moving forward. They have a great team spirit, they are hard to beat and the quality is there too."