The former Scottish international looks set to complete a loan deal with Hearts until the end of the season after falling out of favour with parent club Norwich City.
It had been reported that Naismith was desperate to return to Ibrox having enjoyed five stellar years with the Light Blues earlier in his career.
However, it seems Graeme Murty was not interested in re-signing the attacker, who still has his detractors within the Ibrox support for the manner in which he left the club in 2012.
Appearing on BBC Scotland’s Sportsound programme, ex-Celtic midfielder Commons expressed his surprise regarding the situation.
He said: “I thought it was an ideal partnership if he could have got to Rangers.
“I am very surprised that Rangers didn’t go for him.
“At the moment, Kenny Miller’s not fit, Alfredo Morelos - I’ve seen him play very hot and cold.
“Cummings coming into the squad, he scores the kind of goals Morelos doesn’t, but Naismith is not just a scorer of goals but a creator of them and is a figure who other players will look up to.
“But the fact that Hearts have got him, it is a great sign of intent.
“It is a massive coup. I think it is a huge miss from Rangers - a quality player, an experienced player.”