Several Premier League clubs are reportedly interested in the midfielder, who is in the last year of his contract at Carrow Road.
West Ham United and Stoke City are both reportedly interested in the England Under-21 international, who has been linked with a move away from Carrow Road since his side's relegation from the Premier League was confirmed earlier in the month.
Redmond was one of City's better performers during an otherwise difficult season, contributing six goals in 37 appearances, and Neil, who has previously admitted that changes will be needed in order to get Norwich back in the top flight, admits he is unsurprised by the speculation.
He said: “It is only natural he is going to attract interest. He is young, he is English and he has a year left on his contract. When you put those three things together it is not a surprise. Nathan is one of those who will always attract interest. You have to expect there will be bids and offers coming in but they are going to have to be good to part with him.
But despite Redmond approaching the last year of his contract at the club, Neil insists the Canaries are still in a position to call the shots in any potential deal, adding that the 22-year-old could yet play a significant part in the club's promotion push next season.
“He might only have a year left but he is under 24 so compensation is a factor as well. We are still in a strong position. Nathan has countless under-21 caps, he has experience in the Premier League and he is a big asset to the club.”