It's ok to start looking actually since some of the really good ones are taken up quite quickly. You can probably give them a call first and check on their availability and then place your deposit which is about $200. If you wait till your second trimester then may be you will have to go for second or third choice as they tend to be taken up. Some people are superstitious so they are afraid to look for confinement lady first if anything untoward shall happen to their baby.
If you have a particular nanny in mind that has been highly recommended, it's best to "chop" her as soon as possible bearing in mind that once someone has booked her, she will be unavailable for her 1 to 2 months; which means per year the nanny only can take in about 6 clients assuming that she doesn't take personal time off. Good help are hard to find and you'll be needing all the help you can get in the first 2 months esp if you are a first time mother.
I agree with the rest that it's never too early because good confinement lady is really hard to find. Here's a good guide that you can consider when you are looking for one: http://sg.theasianparent.com/hiring-a-confinement-nanny-things-to-consider/
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Popular confinement nannies have bookings lined up for the year, so you're never too early.
thanks