Cash has emerged as a surprise target for Forest, the club he left to join Villa in a £16million deal five years ago.
The 28-year-old is thought to be on their list of right-back targets but any chance of doing a deal with Villa appears remote at this point, with Unai Emery not wishing to allow Cash to leave so late in the transfer window.
Andres Garcia, currently sidelined with injury, and Lamare Bogarde are Villa’s only alternatives in the right-back position and selling Cash now would leave them needing to recruit another experienced player before the September 1 deadline.
Goalkeeper Marco Bizot and forward Evann Guessand are Villa’s only two senior signings to this point, though business is expected to heat up in the final week of the window, with Emery eyeing possible loan swoops for Marco Asensio and Nicolas Jackson.
Adding another right-sided centre-back to provide cover and competition for Ezri Konsa is also on the manager’s wishlist.
Villa have been moving players out in order to free up space on their wage bill, with Leon Bailey completing his season-long loan switch to Roma on Wednesday.
Alex Moreno is on course to become the latest departure with the left-back closing in on a move to Girona.
Moreno, who became Emery’s first signing at Villa when he joined from Real Betis for £13million in January, 2023, spent last season on loan at Forest.