Translation:Er is hier geen geloof.
The meaning shifts subtly, emphasising the location. Hier is er geen geloof, dáár wel.
In the given translation the focus is more clearly on the lack of faith, closer to the English sentence.
Just out of curiousity, since both are accepted as correct - which is the more natural way to say this: "Er is hier geen geloof" or "Er is geen geloof hier".
Both word orders are correct in english, but the latter sounds really archaic.