A lot has happened since the Reds belatedly began their festive fixtures in 2010 with a 5-2 hammering of local rivals Derby at the City Ground, most of it bad.
With two games in hand at that stage on the majority of their rivals, Forest stood 8th in the Championship and well placed to make a charge for promotion.
They fell short of that before failure in the play-offs spelled the end for Billy Davies but the Scot will look at his old club's current league position with a mixture of bemusement and smugness this Christmas.
Steve McClaren has been and gone, Steve Cotterill's good start has foundered on a lack of goals and the future direction of the club is a talking point given the financial figures announced recently.
A happy new year ahead? Forest fans can only hope so.
Vote now in the Forest Mad poll as to where the Reds are heading in 2012.
http://www.nottinghamforest-mad.co.uk/interactive/voting_polls.asp