After the millennium, there will be a new earth. Will the Heavenly Jerusalem then come down and settle on earth, or will it always hover over earth?
I believe the phrase “new heavens and a new earth” from Rev. 21:1 refers to the renewal of all things mentioned by Jesus in Matt. 19:28 and by Peter in Acts. 3:21. This will happen at the beginning of the millennium when God puts everything back the way it was when He created it. I say this because the phrase “new heavens and a new earth” is a direct quote from Isaiah 65:17 where it appears in the context of the millennium, not eternity.
Since it appears that the sun and moon will cease to shine at the end of the Great Tribulation (Matt. 24:29), the New Jerusalem will become Earth’s source of light (Rev. 21:23-24). Therefore it will always remain in orbit over Earth.
The Bible does not give us any detail about what will happen after the end of the millennium.