Need advice on pruning. We planted this smoketree about 2 years ago, in Spring, and

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though everything I've read says it is a hardy tree, drought tolerant, there seems to be long sections of bare branch between the previous growth and this year's leaves. I don't know how whether to cut off this year's new growth after it blooms, or leave it as is. We have had two droughty years in succession (June-Nov each year) and I'm wondering if that's what caused the sparse growth.

Any suggestions?

Sorry for the size of the picture. I cropped and re-sized it on Imgur, but when I posted it here, the original appears. Guess I need help with that too!