kev;
An approach can be to determine a transfer function that relate the speed of the fan and the dominant frequency of the sound generated by the fan motor. (Probably is just w = 2(pi)f, but I haven't done any search on that nor I don't know what can affect the sound)
Positioning the microphone is important, as you don't want all the noise of the air hitting directly to the microphone element (Unless that's how you are suppose to do it)
If you just need to determine if the fan is in low/medium/high or any other discrete speed, the problem can be a lot more simpler.
Do you have any restrictions on how to do this, other than using a mic? What type of fan is it?
Regards;
Enrique
www.vartortech.com