In a large pot, cook the bacon over medium heat until crispy.
Remove the bacon and place it on a paper towel-lined plate to drain.
In the same pot, add the chopped onion and minced garlic.
Cook until the onions are translucent and tender, about 5 minutes.
Sprinkle in the flour, salt, and pepper.
Whisk for 2-3 minutes to cook out the raw flour taste.
Gradually add the chicken broth while stirring continuously to avoid lumps.
Add the diced potatoes to the pot and bring the mixture to a boil.
Reduce the heat and let it simmer until the potatoes are tender, about 15-20 minutes.
Stir in the heavy cream and dried thyme.