"I can't believe it really, with the quality they've got," Davies, who scored the decisive goal in Notts' 1-0 win told BBC Radio Shropshire.
"It's a big football club and they've got good players, and I'm sure they'll turn it around."
Davies joined Shrewsbury from Chester in 2006, making his debut in the 2006/07 opener against Mansfield.
He went on to help the Shrews to seventh position in the league, but injured an ankle in the play-off semi-final against MK Dons, and missed the final at Wembley - when Town lost out 3-1 to Bristol Rovers.
He returned in late November the following season and, when Stewart Drummond left for Morecambe in January 2008, Davies was made club captain.
Davies played in the 2009 League Two play-off final, which Shrewsbury lost to Gillingham - but when he was not offered a contract extension, he signed for Notts County.
He has become a firm favourite at Meadow Lane, where he is second-top scorer behind Lee Hughes.
"I had three great years at Shrewsbury," he added. "I had and still have a lot of affection for the club, but the time came for me to move on.
"I'm loving my football at the minute at Notts County, we're on a good run and hitting form at just the right time [to challenge for the League Two title] - but it's never nice to see your old club losing, and I wish Shrewsbury all the best."
Source: BBC Sport
Source: BBC Sport