And he feels there is just as much to look forward to as there is to look back on when it comes to Forest's illustrious past.
Freedman says the younger players within the side, in particular, give him plenty of hope.
The 41-year-old told Soccer Saturday: "We're always looking to move forward and embrace what happened in the past to this football club, try to learn from it and move on from it.
"When we talk about the current group of players and the youngsters we've got in the team - like Ben Osborn and Oliver Burke - what can we do in the future next excites me just as much as looking back."
Forest are currently on a 13-game unbeaten run and have genuine hope of overcoming Watford in the FA Cup this weekend.
The Hornets, after all, would have faced Freedman's side in the Championship last season.
For Nottingham Forest's good form, though, Watford have also excelled this campaign. It should be a well-contested cup tie at the City Ground - and it's all to play for.