The versatile 27-year old is out of contract in June but his representative Stephen Kelly says he looks likely to stay put at St Andrew's at least for next season.
"They hold a club option and have indicated they will take it," Kelly told MLSsoccer.com.
"The only thing that could stop them is they have a desperate financial situation."
Recently, Spector has been linked with Premier League promotion winners Cardiff City but Kelly says that only stems from past interest from the Welsh club.
"I don't know where they got that from," Kelly added. "Cardiff wanted him before he signed with Birmingham [in 2011], so maybe they got the idea from that."