"I'll tell you what, the greatest gift God or the people have ever given me is that time with my children. It's phenomenal," the 51-year-old country crooner said of his retirement. "The crazy thing is...I was there every day and it still flew by."
Now that his daughters have grown up, Nancy asked the cherished country singer what the next couple of years will look like for him.
"If you're going where I think you're going, our statement has always been the same: We got one baby left in high school and then we'll figure out what's left for me and Ms. Yearwood," Brooks said of his future.
While he was as ambiguous as the line of question marks featured on his website, he hinted that Nancy might be correct in her prediction for his return out of retirement. His youngest daughter will graduate high school in 2014, a year that numerically adds up to seven, one of Brooks' lucky numbers after which he named his seventh studio album Sevens.
"I'm just going to go ahead and announce it: He's coming out of retirement!" Nancy said, to which Brooks nodded with some prompting from ET's co-host.
Brooks returned to performing in a limited manner in 2009 with a residency in Las Vegas, and has a new Walmart-exclusive eight-disc box set called Blame It All On My Roots out on November 28 inspired by his Vegas performances.
For the final show of his residency, Brooks is inviting millions to join in via a rare live special concert broadcast, "Garth Brooks, Live From Las Vegas," which will air November 29 at 9 p.m. on CBS.
Watch the video above to hear him talk about the show as well as what he's thankful for with Thanksgiving coming up.