Wilson, who will be out of contract in the summer, has already agreed a deal to take him to Parkhead.
Celtic are keen to push through a switch during the January transfer window but Davies does not want to see his squad disrupted again, after already seeing on-loan left-back Ryan Bertrand return to Chelsea.
"As far as I am concerned, he has not played his last game for the club," Davies told the Nottingham Evening Post.
"With such a short time left in the window, I am not sure it would be such a good idea to have to bring in another centre-back and change things around.
"It is late in the day now. If we are prepared to let him go, it should have been done a long time ago. But I do not want him to go, I want him to stay here and be part of this team until the end of the season.
"We can't keep disrupting this squad. We have already seen our left-back go. That is a disruption to a side that has kept excellent clean sheets. We have to keep progressing and building. That is hopefully the plan in the next few weeks."