Is the thousand-year reign of Christ literal?
Yes, Scripture teaches that the Millennium is a literal one thousand year reign of Christ on the earth, not a symbolic or spiritualized period.
The Bible is clear that the Millennium is a literal thousand years. Some theologians have tried to spiritualize this period, calling it merely symbolic, but Revelation 20:2 to 7 mentions the length of this reign six times, which shows that it is meant to be taken literally rather than figuratively.
During this thousand years, Satan is bound and cast into the bottomless pit so that he cannot deceive the nations, and he remains sealed there until the thousand years are fulfilled. Those who were faithful and did not worship the beast or receive his mark are raised in the first resurrection to live and reign with Christ for that same thousand years. They become priests of God and of Christ, sharing in His rule for the full length of that time.
This reign is described as the seventh dispensation of man, also called the Dispensation of the Kingdom. It is a season of rest for the earth and the time when the promises of God to Israel and to the Church are fulfilled. The repeated mention of the exact length in Revelation 20 leaves no room to treat the Millennium as anything other than a real, literal one thousand year reign of Christ on the earth.
The scriptures
And he laid hold on the dragon, that old serpent, which is the Devil, and Satan, and bound him a thousand years, And cast him into the bottomless pit, and shut him up, and set a seal upon him, that he should deceive the nations no more, till the thousand years should be fulfilled: and after that he must be loosed a little season. And I saw thrones, and they sat upon them, and judgment was given unto them: and I saw the souls of them that were beheaded for the witness of Jesus, and for the word of God, and which had not worshipped the beast, neither his image, neither had received his mark upon their foreheads, or in their hands; and they lived and reigned with Christ a thousand years. But the rest of the dead lived not again until the thousand years were finished. This is the first resurrection. Blessed and holy is he that hath part in the first resurrection: on such the second death hath no power, but they shall be priests of God and of Christ, and shall reign with him a thousand years. And when the thousand years are expired, Satan shall be loosed out of his prison,
From the books
This answer is drawn from these passages in the Mary Banks Faith Library.