Reports emerged last week that Forest's Kuwaiti owners, the Al-Hasawi family, were weighing up a move to bring Hunter to the City Ground as director of football.
Forest have a gap in their hierarchy after the Al-Hasawis controversially sacked long-serving chief executive Mark Arthur and dismissed Reds legend Frank Clark from his ambassadorial role last month.
Chief scout Keith Burt was also given the boot along with Arthur and Clark.
Stevenage chairman Phil Wallace told the Comet: "They (Forest) are not the first club to show an interest in him and I doubt they'll be the last since he's a talented young man with an extensive knowledge of British and overseas players and agents.
"However, he's loving the role at Stevenage and has a high level of autonomy and responsibility so I don't think it will be that easy for him to be enticed away.
"However, as with professional players, if any individual working in football has the chance to move to the highest level, I'm sure he or she will do so."