In case you didn’t already know:
“When you take a photo with your smartphone (or a modern digital camera), it logs the photo’s GPS coordinates and embeds it in the image metadata, or EXIF. This is how your phone is able to show a map view of your photo library.”
Now the article goes into quite a bit of detail about when you should be concerned about this, and when you shouldn’t. Most social networks strip out that information when you upload a photo, but many photo sharing sites do not. Most of the people you would send a photo to already know where you live, but not always, etc.
I’m a big advocate for being able to be as private as you want, but also for making informed choices about your online privacy, as opposed to starting a panic. I think if you’re concerned about what kind of location information you’re leaking out through your photos, you should take a look at this article and decide accordingly.
And if you’re involved in something you shouldn’t be, you may want to just not take a photo to start with, let alone share it anywhere. Just saying. Or don’t. I have met plenty of people in law enforcement who appreciate how easy you make it on them.