The 32-year-old has been named the club's player of the year for the past three seasons but his wife and three daughters have relocated back to their native Carlisle and striker Ricky van Wolfswinkel will join from Sporting Lisbon for £8.5million in the summer.
Holt said: "There will always be rumours. People talk about my family moving back north. It was a decision which was made between me and my wife.
"I have always said the family comes first and I do not want to take my kids all over the country and they are at an age where they are starting school. That has nothing to do with my football career.
"Only the manager and the people upstairs will know whether they want me to be here next year. I have got my contract and we will see from there."