In a large saucepan, cook bacon over medium heat until crisp. Using a slotted spoon, remove to paper towels to drain. Discard drippings.
In the same pan, melt butter. Stir in flour and nutmeg until smooth. Gradually whisk in broth. Bring to a boil; cook and stir for 2 minutes or until thickened. Stir in tomatoes. Reduce heat; stir in cream. Heat through (do not boil). Add bacon.