This phrase is used by someone after it is pointed out that their preceding comment(s) seemed to be those of a hater. It's also said after an insult in disguise, or when someone is jealous of you, but wont/can't say it directly.
Bob: "Damn Tommy, you got another pair of watch? You're like some trust fund kid."
Tommy: "Why are you worried about my watches? It sounds like you hatin' on me or something."
Bob: "Nah bro...C'mon, Im just sayin' bro. We're bro's, right?"
or
Bob: "Nice shoes Tommy."
Tommy: "Thanks Bob! You really like em'?"
Bob: "Yea, they're soooooo coooooool :/"
Tommy: "The way you said that make it seem as though you think otherwise."
Bob: "Nah bro... c'mon bro... They're cool, im just sayin' bro."