TOWN had to be satisfied with a point after taking a second-minute lead through Lee Novak.
The Geordie striker struck his 16th goal of the season with a low shot from the edge of the penalty area and SImon Grayson's side went on to dominate the first half.
But Walsall hit back with a 49th-minute equaliser through on-loan Stoke midfielder Florent Cuvelier and had the better of the second period, earning the draw which ensured their League I survival.
Town remain fifth and are two points behind play-off semi-final opponents MK Dons, who won 2-1 at Rochdale.