The Republic of Ireland international argues Alex McLeish's side are playing reasonably well and the side have been unfortunate in recent matches.
Blues travel to the seaside on Saturday as they visit Blackpool knowing three points would put them level on points with Ian Holloway's side, who sit mid-table.
Fahey told the Birmingham Mail: "I don't think we are playing too badly.
"I think we've been unfortunate.
"The Everton game an own goal knocked the stuffing out of us, then there was the penalty against Arsenal.
"We were unfortunate not to get a win in the Wigan game as we created the chances.
"But I don't think we are playing too badly. We're not getting that bit of luck we need.
"You have these patches when things won't go your way Last season, when we were on that run of form, things fell for us the way we wanted. But we will come through this.
The 27-year-old former St Patrick's Athletic player continued: "Saturday's a must-win.
"The gaffer made us aware in the dressing room at Arsenal that we are below the average points per game you need to stay up. So we need to win.
"I think people watching us, as well, will tell you we're not that bad.
"But you can easily slide into that relegation battle, become too complacent and forget about how serious your situation is - I'm sure we won't be."