Only if you've just made a partial admission or looked guilty when something was said about whatever is missing.The expression is normally used to mean 'a little too close to the truth' when someone, A,usually inadvertently, says something which embarrasses or irritates somebody else,B, because it happens to be on a sensitive subject, close to the truth about B's feelings or some actual fact which they'd rather not think or talk about .Then we observe ' That was a little too close to home"