A run of five straight Premier League defeats was enough to convince the club's hierarchy that a change was needed.
It had been a summer of transition following the sale of Jack Grealish to Man City for £100million with a number of new players signed as a result.
There were also changes to Smith's backroom staff with assistants John Terry and Richard O'Kelly leaving.
But who could Villa look to bring in to turn around their floundering season now? talkSPORT takes a look…
Steven Gerrard
Gabby Agbonlahor has already backed the Liverpool legend to be the club's next manager and it seems the bookies agree.
The former Villa striker told talkSPORT that his old side could prove a potential stepping stone before a future opportunity in the Anfield dugout.
Gerrard has won many plaudits in his first senior manager job at Rangers where he led the Scottish giants to a first league title in a decade last year.
He consistently demands an attacking, possession-based style of football which would suit Villa's summer signings Emi Buendia and Leon Bailey.
Gerrard's preferred systems - which are either a 4-3-3 or a 4-2-3-1, a single or double pivot at the base of midfield - were both favoured formations of former manager Smith.
John Terry
The loss of Terry as Villa's assistant head coach is the 'obvious' reason behind the club's dramatic loss of form, talkSPORT were told last week.
The Chelsea legend could now be installed as the man to rescue their season having quit his post in the summer in pursuit of being a manager.
Terry would have to prioritise fixing the club's leaky defence as they have conceded the third most in the division this term.
He is still inexperienced in a top job meaning Villa would be taking a huge gamble on their Premier League survival in hiring him.
Paulo Fonseca
The Portuguese is best known for his time at Roma, where he earned a fifth and a seventh place finish in Serie A during his two seasons in charge.
Fonseca was heavily linked with a move to Tottenham twice this year - most recently before Antonio Conte was hired to replace Nuno Espirito Santo.
Yet Spurs were said to have doubts over his risk-taking approach that might also be a problem for a Villa side keen on avoiding relegation.
Fonseca is renowned for the fluidity of his hybrid 4-3-2-1 system that allows his full backs to push up high and provide the width with his wingers allowed to operate in more central areas.
He made headlines after a Champions League win over Manchester City when he appeared in a post-match press conference as his childhood hero, Zorro.
Kasper Hjulmand
The 49-year-old saw his reputation soar after guiding Denmark to the Euro 2020 semis despite star man Christian Eriksen suffering a cardiac arrest.
He succeeded Thomas Tuchel at German outfit Maniz while he has also had spells with Danish outfits Lyngby and Nordsjaelland.
Hjulmand is known for developing young players having handed international debuts to Euro 2020 starlets Mikkel Damsgaard and Joakim Maehle.
Hjulmand wants his teams to press high up the pitch and usually sets his sides up in a 3-4-3 formation that can adapt to a 4-3-3 out of possession.
Graham Potter
Despite battling relegation with Brighton in his two seasons in charge, Potter had already gained several plaudits for his attacking brand of football.
And the Seagulls are flying this time around, with a 1-1 draw at Newcastle sending them up to seventh - level on points with Manchester United.
Potter was again linked with the Spurs vacancy twice this year, originally after Daniel Levy sacked Jose Mourinho and then before Conte was hired.
A Potter team, on the other hand, is a 'tactically flexible, attacking, possession-based team,' according to the man himself back in 2018.