The Labour leader and deputy leader of Gedling Borough Council said this is the biggest fight in MP Vernon Coaker's 22 years in power.
They said the long-standing Labour MP "might lose it tonight" to the Conservatives in a seat he has held since 1997.
At the last General Election in 2017, Labour achieved 26,833 votes compared to the Conservatives 22,139.
Labour therefore won with a majority of 4,694, but tonight Gedling could turn blue again, as Conservative candidate Tom Randall hopes to claim victory.
Gedling is the fourth-most marginal seat in the county.
Deputy leader of Gedling Borough Council, Councillor Michael Payne, said: "I think he might lose it. It will be the closest result in 22 years and there is a clear reason for it.
"He has faced an onslaught of poor leadership from Jeremy Corbyn and the issue of Brexit.
"The response has been good on the doors. You can't argue with the fact Vernon has worked hard.
"If he wins it, it will be a reflection of his hard work. I think it is very tight. It is a travesty. Nine years of Tory government and we should have taken them to the cleaners."
His views have been echoed by the leader of Gedling Borough Council, Councillor John Clarke, who is also worried for Mr Coaker.
He said: "I think we will squeak it narrowly. It is because we are fighting all fronts - you have got the Corbyn Factor - love him or hate him. He can't do right for wrong.
"If Vernon loses it will be a tragedy. It is not a reflection on what we do in the borough."
The exit polls suggest for Gedling that there is a 56 percent chance of a Labour hold and a 44 percent chance of Conservative gain.
Vernon Coaker has not yet arrived at the count, which is being held at Carlton Forum, with a result expected at 3.30am.
Graham Hunt, who is standing for the Brexit Party, thinks long-standing Labour MP Vernon Coaker could also lose his seat tonight.
This is the first time Mr Hunt, a former electricity board worker, has stood in politics.
He said: "He may lose it. I have just seen the exit poll. It could bring him in range to lose it tonight. I think it will be tight."
Conservative Candidate Tom Randall is keeping tight-lipped on whether he thinks he has won Gedling.
He said: "I have had a good campaign but we will see how it goes. We are in for a long night.
"We have had the exit poll, it’s encouraging, but there is only one result and I will wait for that later on. That’s all I want to say for now."
