But Ferguson said: "The goal at Forest was an important goal, don't get me wrong, and who's to say what would have happened without it, but I don't think it saved my job.
"You never know in football. Who's to say how the club would have reacted if we'd lost and if crowds had tumbled?
"One thing's for sure though. (Director) Bobby Charlton would not have let it happen. He knows better than anyone the heartbeat of this football club. This football club needed the foundation of youth and we were doing some great work on that side of it. Bobby knew we were on the right road."
Ferguson admits he has been impressed by his former strikers progress in management.
Ferguson said: "Mark did a great job at Rotherham. They were going into administration and it's not easy if that happens because you cant get any players.
"He had to work with what he had and I think that's a good start in management, I really do. Learning the hard way is the best way.
"When I was at East Stirling, there were only eight players when I joined the club. I had to get five players quickly just to get a team on the pitch. They gave me £2,000 to get five players!
"My first signing cost £100 and that boy is now the chief scout at Ross County, George Adams. I keep joking to him: 'You were a huge waste of money!'"