I see that the spirit, soul and body were designed to fuction in harmony with one another. Our spirit being the highest form of life, is to be the head or our being and rule over our souls and bodies. Yet, at the fall of Adam, this relationship between the three was lost. Christ redemption on the cross gave every person born an opportunity to become regenerated, restored to their spirits-born again. Once we are born again, we have the capacity to live this renewed harmonious relationship between the spirit, soul and body (Gal. 5:16-26). The soul and body still need to be regenerated, and that is to "work out our own salvation" (Phil. 2:12).
Rom. 12:12 speaks of renewing our mind with the word. If we are having to renew our spirit, then what does faith in Christ for salvation do for us? Our spirit is either made new or not. If it was not then we have to renew it ourselves by the word!
This is one reason I do not believe the soul and spirit are the same.
Is our mind the same as the mind of Christ? Or does our soul have a mind and our spirit have a mind too?
Our inner man, the person hidden in our heart, our spirit/soul functions in harmony with itself. When we are born anew, our spirit/soul is rewired, born from above, and indwelt with the Spirit of Christ.
The relationship that was lost in the garden was Adam was separated from God, figuratively kicked out of the garden and precluded from re-entering. This separation is spiritual death, and all mankind suffered the consequence of that separation, being conceived in a separated from God sinful state, i.e. in iniquity.
Galatians 5:16- 26 teaches our spirit/soul can be led by the Holy Spirit and walk in paths of righteousness, or we can walk in an unworthy manner. The tension is between the way of the flesh and the way of the Holy Spirit. But as born anew creations, we can walk by the Spirit.
In sum, the passage provides no support for the mistaken three part view of man.
Romans 12:2 teaches we are not to be conformed to the world, but be transformed by the renewing of our mind, so we can do the will of God.
Thus as a born anew person, we are still babes in Christ, and need to study and grow more mature, feeding on spiritual meat understood with the aid of our indwelt Spirit of God.
What does faith in Christ do for us? Great question! If we actually go "all in" for Christ, God will credit our faith as righteousness, Romans 4:4-5, and place us spiritually in Christ. And in Christ we undergo the circumcision of Christ and arise in Christ a new creature, created for good works. 1 Peter 1:3-5 tells us we God will keep us by protecting our faith, so once we are "born anew" we will always love Jesus and trust Him, even if our walk goes astray. If we build on our foundation in Christ with imperishable stuff, we will enter heaven abundantly, but if we build with perishable stuff, it will be burned up and we will still get to heaven, but as one escaping from a fire, bringing little or no rewards with us.