If your belt and deck are worn or need lubricant, it can slow down and also cause motor damage. Run the treadmill longer than you walk without walking on it. If the speed stays constant with no one on it your belt and deck are worn or need lube.
See my video on treadmill maintenance at www.mindbites.com/person/214-Mark
You can get my e-mail there also.
Mark Peterson, March 2008