Hart told the official site: "Tottenham have made us an offer but it is nowhere near the valuation we have for Andy,"
Reid is a fan's favourite at The City Ground and has developed through the club's Youth Academy at Wilford Lane.
He added: "It is by no means certain that we are going to sell Andy. I am merely reacting to questions that are put my way.
"I don't know whether Tottenham will be back but I am not interested because we are not actively trying to encourage bids, set up an auction or anything like that."
David Pleat is a huge admirer of the Irishman who made his senior debut for Ireland against Canada in 2003.