A321 First Officer reported receiving an over temperature indication for the #1 engine on take off. The flight crew performed an air turn back and landing at departure airport.

Narrative

After Captain and I received an Over Temperature" indication on Engine 1. We established he was the Pilot Flying and continued our takeoff as normal. After we completed the takeoff phase and entered the climb phase we identified the problem. The aircraft provided an ECAM message indicating us to shut down our engine in flight. However all of our engine indications were back in the green and functioning normally. We did have a tick mark saying we over temped but it did not say how much or how long.We elected to not follow the ECAM as we felt the engine was now functioning properly. Captain gave the aircraft to me and finished the rest of the checklist that was not required by the ECAM. He then attempted to contact company to inquiry whether it was appropriate to shut down the engine; return back; or keep going. At this point the ECAM was no longer telling us to shut down the engine but still had the tick where the engine over temped. We decided to turn around have the engine looked at. This required an overweight landing which triggered [requesting priority handling]. We [requested priority handling]; followed our checklist; chose the longest runway; and landed without further incident. It being a red eye flight was a factor. I felt the situation was handled very well. If I could do it again I would have turned back sooner but I also had no issue with burning some fuel for our overweight landing."