Heat a large pot over medium heat. Add bacon and cook until crisp. Drain and set aside.
Melt butter in the pot with equal amount of reserved bacon fat. Add in onion, garlic and mushrooms. Cook, stirring occasionally, until softened. Stir in thyme.
Whisk in flour and fry 1 minute. Whisk in chicken broth and cook, stirring until slightly thickened.
Add potatoes. Bring to a boil; reduce heat and simmer until potatoes are tender.
Stir in cream and corn and heat through. Season to taste with salt and pepper.
Serve garnished with bacon.