Sometimes when you are trying to create a list
template with a large number of items in your site, you’ll get a “Processing…”
dialog that continues for a long time. 
This may go on for quite some time, with SharePoint eventually being
unable to create the list. The reason this happens is because SharePoint has a list
view limit.  The default limit is only
5000 items. In this article, we’ll show you how to increase the list view
limit.

When you attempt to create a list template that is
over the default list view, you will get the following dialog:

To remedy this, you will first need to go to the Central Administration page. From here,
select Manage web applications.

Select the Web
Application that you are using. For this example, I have select port 80.

Next, expand the General
Settings menu in the Ribbon and select Resource
Throttling.

In the List View
Threshold field, change the List
View limit to a larger number.

You will now be able to create a new list template that has
a number of items greater than 5000.