The 19-year-old has been training with the League One club and has impressed the Magpies boss.
"We will try to do a deal with Birmingham for Luke," Short told the Nottingham Post.
"I certainly wouldn't like to play against him because he is very direct and takes people on. He is very, very quick."
Notts have already signed one of Birmingham's Academy players on loan. Striker Jake Jervis, also 19, made his debut as a second-half substitute in their opening-day defeat to Huddersfield last weekend.
Unlike Jervis, who played seven games in League Two during a loan spell at Hereford last season, Hubbins has no Football League experience.