Cut the bacon into small strips and saute it in a deep pan on medium high heat. Render the fat for about 5 mins.
Add the onions and cook for 5 mins.
Add the turkey, potatoes, carrots, thyme, salt and pepper and stir it well. Add the chicken broth, stir and cover. Cook for 10-15 mins or until the vegetables are tender.
Remove the pan lid and add the heavy cream and cheese. Stir well. Let it simmer for 5 mins.
Take a couple tablespoons of liquid from the soup and put it into a small ramekin. Mix the flour into this liquid with a fork or whisk and mix it well into a paste making sure there are no lumps. Return this paste into the soup. Mix it well.
Cook for 5-10 mins and taste for salt and pepper. Add more if needed.