I think it's wrong to think about this in terms of AI only. Things like the AI-winter and commercial effects on common lisp are distracting if you're asking why it was used for AI, not why it's not often used now ...
Anyway, I think it's because most of the AI code was essentially research code. Lisp is a great language for exploratory programming, for implementing difficult algorithms, for self-modifying and often modified code. In other words, for research code.
I use lisp today for some of my research code (mathematics, signal processing) because it's more flexible and powerful than most languages while still generating more efficient code than most languages. I can typically get performance within a factor of +/- 2 of say c++ speed, but I can implement things much faster, and deal with complexity that would take me far more time than I have if I used c++, java, c#.
That's wandering off topic though. I think AI code was primarily written in common lisp for a while because it is a powerful approach to research code. It still is; but as `AI' algorithms became better understood and explored, parts of them were much easier to teach and use, so they showed up in flavor-of-the-year languages in undergrad courses. From there, it becomes an issue of what people already know, what libraries are available, and what works well for large groups.