The former Bath centre is keen to find a club in the West Country. Spencer spent five years at Bath. His parents own and manage a golf club in Somerset.
"My move to Glasgow was a positive experience because it helped me get that match fitness back," said Spencer, who suffered foot and knee injuries while with Bath.
"Now I am looking forward to getting back into top-flight rugby. Towards the end of the season I really felt my sharpness and confidence come back."