•(2): (setf sb-ext:*evaluator-mode* :interpret)

:INTERPRET
•(3): (defun test-function ()
  (let ((counter-var (load-time-value (cons 0 nil))))
    (symbol-macrolet ((counter (car counter-var)))
      (incf counter))))

TEST-FUNCTION
•(4): (test-function)

1
•(5): (test-function)

1
•(5): (describe 'test-function)

COMMON-LISP-USER::TEST-FUNCTION
  [symbol]

TEST-FUNCTION names an interpreted function:
  Lambda-list: ()
  Derived type: FUNCTION