Totally! This is the ONLY way I've written since I started. I come up with a melody/rhythms, then chords, and lyrics last. And I've recently hit a block that has really knocked me down. It seems that my latest melodies are great, but don't leave room for the lyrics to tell the story that I want them to. So I have to fit in words that complete the line, but don't support the song.
So I've decided to try a lyrics-first approach (which I've always been terrified of). I hope it works out, and good luck to you on switching things up!