Absolutely.
I do, however, try to make it so that different areas of the setting get featured particularly in consecutive campaigns. If Forgotten Realms Game A is mostly taking place up and down the Sword Coast, I'll design Forgotten Realms Game B to take place in, say, the Shining South, or along the Moonsea.
Likewise, if there have been big, world-changing events in one game I'll try to at least integrate them somewhat into the next game, even if the rest of the world was never the wiser as to exactly why what happened happened.