Heat a large Dutch oven or a heavy-bottomed soup pot over medium-high heat.
Add bacon to the pot; saute 4 minutes or until the bacon begins to brown.
Add onion, celery slices, garlic, dried thyme, salt and pepper; cook for 4 minutes, stirring occasionally.
Stir in corn and cook for 2 more minutes, or until heated through.
Add broth and water and bring mixture to a boil; continue to cook for 5 minutes.
Remove 3 cups of the corn mixture and transfer to a blender; blend until completely smooth and creamy.
Return the blended mixture to the soup pot; stir in shrimp and cook for 3 to 4 minutes, or until shrimp is done.
Remove from heat and stir in milk; stir until completely incorporated.
Taste for seasonings and adjust accordingly.
Garnish with bacon bits and green onions.