Moving Objects with Surface Snapping Enabled Causes Major Offset

When using surface snapping objects do not move properly. 

4.23 CL# 7948402, 4.24 CL# 8012457

This is a regression.

1. Open the Editor
2. Enable surface snapping
3. Create a landscape and sculpt a hill
4. Place a cube into the scene
5. Try to move the cube up and down the hill 

Results:
The cube will become sporadic and move the mesh incorrectly

Expected:
The cube would move along the surface of the landscape