How do I show that for $T: X \rightarrow X$ where X is complete and $T^m$ is a contraction that T has a unique fixed point $x_0 \in X$.
I know there exists $\lambda_1 \in (0,1)$ for $x, y \in X$ such that $d(T^mx, T^my) \leq \lambda_1 d(x, y)$ and I need to show that T is a contraction and then apply the fixed point theorem but how do I do that?
You don't need to show that $T$ is a contraction. That might be false. (E.g., $X=\mathbb R^2$, $T(x,y)=(0,2x)$, $m=2$.)
So you know a fixed point theorem that would apply if $T$ were a contraction. That means that you know a fixed point theorem that does apply to $T^m$. Hence, you know that $T^m$ has a unique fixed point $x_0\in X$.
Note that $x_0=T^m(x_0)$ and $T(x_0)=T(T^m(x_0))=T^m(T(x_0))$, so