There are several variations of this story, before and since, and even within The Twilight Zone series.
It may have begun with Mark Twain’s A Connecticut Yankee in King Arthur’s Court (1889). More contemporary was the stage play Brigadoon (1947) that was a huge Broadway hit, and made into a 1954 movie, that really showed the New York City business pressure-cooker.
Within The Twilight Zone there was also “Walking Distance”.
http://en.wikipedia.org/wiki/Walking_Distance
“The Trouble With Templeton”.
http://en.wikipedia.org/wiki/The_Trouble_with_Templeton
They brought back a lot of memories!