Yes, in the minds of Christian Zionist and Dispensationalists, it does. However the proof lies within the New Testament teachings concerning Christ saying otherwise.

Deuteronomy 28, which continues to be a theme to the end of the book, lays out the pattern by which God will work in Israel as they dwell in the land they are about to enter. The Abrahamic covenant is thus renewed in the covenant of Moses. It especially gives us the outline for the Babylon Capitivity, after which the nation was restored to the land and to faith.

But in the new covenant these things took on greater spiritual import and the judgment, Jesus prophesied, came AFTER the people were first brought into that covenant. The people were delivered before the judgment in 70 AD fell. Who was to be restored after that when the remnant was already saved? Those who were not slain in the judgment went into captivity and Israel was dispersed into the nations - in UNBELIEF. They were not the witnesses for Messiah anymore as they had been before He arrived. No that privilege passed to those who BELIEVED.

Deuteronomy 28 specifically speaks of a restoration that comes after judgment only when they turn to the Lord. There is no restoration of the promise given to Abraham which can come apart from that. The people must repent. But Jesus is the last faithful Son of Israel who came before the judgment and the inheritance was given to Him. Those who were cut off therefore will remain cut off from the promise until they come to faith in Him. There is no turning to the Lord for Israel, or any other people, without turning to Jesus and putting one's faith in Him.

Therefore 1948/ 1967 has nothing to do with a promise remaining of being restored to the land yet not to faith. Salvation and prophecy are thus fulfilled together in Christ - you can't have one without the other!