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The job came open last week with the retirement of Randy Sanders, who had been in the position since 2017.
Sanders, a former Tennessee Vols quarterback and offensive coordinator, led the ETSU Bucs to an 11-2 record and the quarterfinals of the FCS playoffs during his time with the program.
The Tennessean reports that Fisher is putting serious thought into the position and may accept if it is offered.
The 63-year-old was last a head coach in 2016 when he was with the Rams and spent the past season as a senior advisor on the staff at Tennessee State.
Under Sanders, ETSU beat Vanderbilt 23-3 in the Sept. 4 season opener and went on to win the Southern Conference championship.
Fisher spent 22 years as an NFL head coach, where he coached the Oilers/Titans from 1995-2010 and compiled a 142-120 record. He led the Titans to the Super Bowl during the 1999 season and went on to coach the St. Louis/LA Rams from 2012-16.
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