The Dark Ages of Bayit Sheni
Unfortunately, the prophecies of Chagai and Zecharya - of prosperity, sovereignty and the Shechina's return - were not fulfilled during that generation, nor in the following generations. Sefer Ezra is silent in regard to what happened after the Temple's construction was completed in the sixth year of Daryavesh (see Timeline), but the situation must have been quite pathetic. When Ezra and Nechemya arrive from Bavel several years later, the city is in ruins. There is mass inter-marriage, chillul shabbat, etc. Clearly, Am Yisrael remained under Persian sovereignty, as we see from the fact that both Ezra and Nechemya received their authority from the Persian king.

Israel remained under Persian rule, and later under Greek rule, for several hundred years. The condition set by Zecharya and earlier by Yirmiyahu, that Israel must repent in order to be worthy of a full redemption, seems not to have been met.

[Rav Yehuda Ha-Levi in Sefer Ha-Kuzari II.24 explains the unfulfillment of these prophecies in a similar fashion. He mentions inadequate teshuva as well as lack of enthusiasm of the exiled to return to Israel. See also Yoma 9b, where Reish Lakish and Rav Yochanan explain why the shechina never returned during Bayit Sheni.]

Although left unrealized, these vital prophecies most likely were remembered, as they reflected the most optimistic goals of the Second Temple period. One might conjecture that the anniversary of the original construction date, the 25th of Kislev, was also remembered. This may have also been viewed as an appropriate date to recall the optimistic prophecies of Chagai, pronounced on the preceding day - the 24th of Kislev.