You cannot create a table that references a table that does not yet exist. To create two or more tables that reference each other, use create schema.
A schema is a collection of objects owned by a particular user, and the permissions associated with those objects. If any of the statements within a create schema statement fail, the entire command is rolled back as a unit, and none of the commands take effect.
The create schema syntax is:
create schema authorization authorization name create_object_statement [create_object_statement ...] [permission_statement ...]
For example:
create schema authorization dbo
create table list1
(col_a char(10) primary key,
col_b char(10) null
references list2(col_A))
create table list2
(col_A char(10) primary key,
col_B char(10) null
references list1(col_a))