Bought in the summer, Spence has found game-time to be very limited in his debut season at Tottenham.
The right-back has only four appearances in the Premier League to his name and even they typically comprise of coming on the pitch for a minute or so.
Spence has been relegated to the bench in lieu of Matt Doherty and Emerson Royal, but he could now get first-team opportunities elsewhere.
The 22 year-old is now likely to leave Tottenham this month and join another club on loan in pursuit of more minutes on the pitch.
While there is nothing approaching an agreement, Spence has become the subject of interest from a number of clubs who would be ready to take him on loan.
At least four Premier League clubs are interested in him, while Bayer Leverkusen from Germany are also said to be keen.
The loan could still be stopped however, if one of Doherty or Royal gets injured, but that notwithstanding, Spence is likely to go out on a temporary basis this month.