No, it's more reasonable to belive that it comes from physical energies, as the only known time-space users, were Tobirama (a senju), Minato (he was a hokage, so his rather closer to the senju), Kakashi (a hokage candidate) and Tobi (who posses senju genes from the first).
Originally Posted by Rlinfamous
Though, I belive it's actually one of the powers that have close to perfect blending of spiritual and physical energies (this as well would explain why Tobi can use it). Gravity and time-space ninjutsu, could be consider a superior element, only seen from people who excel at both energies.
Tobirama, Minato, Kakashi, the 3 of them are closer to senju (well one of them is ;p), but doesn't posses that great stamina (compared to some senju/uzumaki monsters ;p), but they excel more at technique and speed, and 2 of them have been shown to be capable of using a genjutsu (although Kakashi's genjutsu talent seems to be lesser than Tobirama's, but he backs it up with his sharingan). It's only reasonable to belive that only people capable of handling both energies can use time-space ninjutsu, just like Tobi, who certainly has both of them.
Was Tobi really talking about a new jutsu and not about that the EMS is a new doujutsu (not a jutsu like amaterasu but an eye jutsu like byakugan) ?