Sprinkle thyme and black pepper over chicken thighs. Spray a nonstick pan with cooking spray and heat over medium-high heat. Cook chicken thighs on both sides until no longer pink in the center and the juices run clear, 10 to 15 minutes. Be careful not to overcook. Remove from pan and keep warm.
Add mushrooms and shallots to the pan over medium heat. Add a splash of broth and cook until vegetables are slightly browned, 3 to 5 minutes. Add remaining broth, balsamic vinegar, and honey. Cook until slightly thickened, 1 to 2 minutes. Return chicken to pan and cook until warmed, 1 to 2 minutes.
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