UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 10-Q

(Mark one)

[x]                   QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended              June 30, 1997
                               
                                                     OR

[ ]                   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from   ___________   to  ___________

Commission File Number                   0-14695

              NTS-PROPERTIES VI, a Maryland Limited Partnership
           (Exact name of registrant as specified in its charter)

          Maryland                                 61-1066060
(State or other jurisdiction of        (I.R.S. Employer Identification No.)
incorporation or organization)

    10172 Linn Station Road
    Louisville, Kentucky                              40223
(Address of principal executive                     (Zip Code)
offices)

Registrant's telephone number,
including area code                               (502) 426-4800

                              Not Applicable
           Former name, former address and former fiscal year,
                       if changed since last report

Indicate by check mark whether the registrant (l) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months,  and (2) has been subject to such filing  requirements
for the past 90 days.

                                                  YES  X         NO

Exhibit Index: See page 18
Total Pages: 19


<PAGE>



                                TABLE OF CONTENTS

                                                                        Pages

                                     PART I

Item 1.     Financial Statements

            Balance Sheets and Statement of Partners' Equity
              as of June 30, 1997 and December 31, 1996                     3

            Statements of Operations
              For the three months and six months ended
                June 30, 1997 and 1996                                      4

            Statements of Cash Flows
              For the three months and six months ended
                June 30, 1997 and 1996                                      5

            Notes To Financial Statements                                 6-9

Item 2.     Management's Discussion and Analysis of Financial
              Condition and Results of Operations                       10-17


                                     PART II

1.     Legal Proceedings                                                   18
2.     Changes in Securities                                               18
3.     Defaults upon Senior Securities                                     18
4.     Submission of Matters to a Vote of Security Holders                 18
5.     Other Information                                                   18
6.     Exhibits and Reports on Form 8-K                                    18

Signatures                                                                 19


                                      - 2 -

<PAGE>
<TABLE>



PART I.  FINANCIAL INFORMATION
Item 1.  Financial Statements

                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                BALANCE SHEETS AND STATEMENT OF PARTNERS' EQUITY

<CAPTION>


                                                       As of            As of
                                                  June 30, 1997   December 31, 1996*
                                                   -----------       -----------
ASSETS

<S>                                                <C>               <C>        
Cash and equivalents                               $   959,244       $   640,541
Cash and equivalents - restricted                      468,890           390,677
Investment securities                                  909,875         1,085,267
Accounts receivable                                    140,506           136,394
Land, buildings and amenities, net                  39,556,189        40,436,784
Assets held for development, net                     1,696,091         1,714,511
Other assets                                           324,066           367,628
                                                   -----------       -----------

                                                   $44,054,861       $44,771,802
                                                   ===========       ===========

LIABILITIES AND PARTNERS' EQUITY

Mortgages payable                                  $27,032,180       $27,403,056
Accounts payable                                       298,325           349,168
Distributions payable                                  216,177           216,692
Security deposits                                      247,705           250,814
Other liabilities                                      322,623            52,086
                                                   -----------       -----------

                                                    28,117,010        28,271,816

Partners' equity                                    15,937,851        16,499,986
                                                   -----------       -----------

                                                   $44,054,861       $44,771,802
                                                   ===========       ===========
</TABLE>
<TABLE>
<CAPTION>


                                    Limited          General
                                    Partners         Partner          Total
                                    --------         -------          -----
<S>                               <C>             <C>             <C>         
PARTNERS' EQUITY
Capital contributions, net of
 offering costs                   $ 40,518,631    $        100    $ 40,518,731
Net income (loss) - prior years    (12,308,341)        (75,936)    (12,384,277)
Net loss - current year                (91,491)           (924)        (92,415)
Cash distributions declared to
 date                              (10,669,051)       (107,768)    (10,776,819)
Repurchase of limited
 partnership units                  (1,327,369)             --      (1,327,369)
                                  ------------    ------------    ------------

Balances at June 30, 1997         $ 16,122,379    $   (184,528)   $ 15,937,851
                                  ============    ============    ============
</TABLE>

*      Reference  is made to the  audited  financial  statements  in the  Annual
       Report on Form 10-K as filed with the Commission on March 28, 1997.

                                      - 3 -

<PAGE>
<TABLE>



                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                            STATEMENTS OF OPERATIONS

<CAPTION>


                                         Three Months Ended            Six Months Ended
                                              June 30,                     June 30,
                                              --------                     --------

                                        1997           1996           1997           1996
                                    -----------    -----------    -----------    -----------
<S>                                 <C>            <C>            <C>            <C>   
REVENUES:
  Rental income                     $ 2,303,855    $ 2,338,541    $ 4,609,172    $ 4,684,905
  Interest and other income              28,474         27,807         56,422         59,618
                                    -----------    -----------    -----------    -----------

                                      2,332,329      2,366,348      4,665,594      4,744,523

EXPENSES:
  Operating expenses                    616,873        656,194      1,227,450      1,182,707
  Operating expenses - affiliated       251,829        256,734        551,318        539,377
  Interest expense                      566,074        586,004      1,148,946      1,173,817
  Management fees                       115,370        122,178        232,184        237,966
  Real estate taxes                     198,752        194,740        391,846        382,126
  Professional and administrative
   expenses                              50,756         36,872         85,756         73,048
  Professional and administrative
     expenses - affiliated               79,674         47,377        157,154         97,867
  Depreciation and amortization         483,806        479,390        963,355        958,872
                                    -----------    -----------    -----------    -----------

                                      2,363,134      2,379,489      4,758,009      4,645,780
                                    -----------    -----------    -----------    -----------

Net income (loss)                   $   (30,805)   $   (13,141)   $   (92,415)   $    98,743
                                    ===========    ===========    ===========    ===========

Net income (loss) allocated to
 the limited partners               $   (30,497)   $   (13,010)   $   (91,491)   $    97,756
                                    ===========    ===========    ===========    ===========

Net income (loss) per limited
 partnership unit                   $      (.71)   $     (0.29)   $     (2.13)   $      2.11
                                    ===========    ===========    ===========    ===========

Weighted average number of
limited partnership units                42,810         45,410         42,840         46,332
                                    ===========    ===========    ===========    ===========

</TABLE>



                                      - 4 -

<PAGE>

<TABLE>


                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                            STATEMENTS OF CASH FLOWS
<CAPTION>


                                             Three Months Ended            Six Months Ended
                                                  June 30,                     June 30,
                                                  --------                     --------

                                             1997          1996           1997           1996
                                        ------------   -----------    -----------    -----------
<S>                                     <C>            <C>            <C>            <C>       
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)                       $   (30,805)   $   (13,141)   $   (92,415)   $    98,743
Adjustments to reconcile net income
   (loss) to net cash provided by
   operating activities:
      Accrued interest on investment
        securities                            7,764         (5,831)         1,399          3,285
      Depreciation and amortization         483,806        479,390        963,355        958,872
      Changes in assets and
      liabilities:
        Cash and equivalents -
           restricted                        74,468        (87,278)      (115,463)      (277,757)
        Accounts receivable                  (9,679)        80,791         (4,112)         7,693
        Other assets                         27,228         28,645          2,674         25,139
        Accounts payable - operations       (86,246)        13,048        (50,843)        29,846
        Security deposits                     5,632          5,695         (3,109)         3,137
        Other liabilities                    77,750         86,111        270,537        274,464
                                        -----------    -----------    -----------    -----------

   Net cash provided by operating
      activities                            549,918        587,430        972,023      1,123,422
                                        -----------    -----------    -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES
Additions to land, buildings and
    amenities                               (12,016)        (1,219)       (15,953)       (75,137)
Purchase of investment securities          (753,896)      (652,246)    (1,581,396)    (1,587,438)
Maturity of investment securities         1,202,500        570,000      1,755,389      1,706,480
                                        -----------    -----------    -----------    -----------

   Net cash used in investing
      activities                            436,588        (83,465)       158,040         43,905
                                        -----------    -----------    -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgages
    payable                              (9,305,051)       (61,832)    (9,370,876)      (122,387)
Proceeds from mortgage loan               9,000,000             --      9,000,000             --
Loan costs                                      (26)            --         (7,500)            --
Cash distributions                         (216,292)      (231,773)      (432,984)      (471,344)
Repurchase of limited partnership
    units                                    (5,750)      (344,750)       (37,250)      (730,750)
Cash and equivalents - restricted             5,750       (110,630)        37,250        275,370
                                        -----------    -----------    -----------    -----------

   Net cash used in financing
      activities                           (521,369)      (748,985)      (811,360)    (1,049,111)
                                        -----------    -----------    -----------    -----------

   Net increase (decrease) in cash
      and equivalents                       465,137       (245,020)       318,703        118,216

CASH AND EQUIVALENTS, beginning of
    period                                  494,107        756,788        640,541        393,552
                                        -----------    -----------    -----------    -----------

CASH AND EQUIVALENTS, end of period     $   959,244    $   511,768    $   959,244    $   511,768
                                        ===========    ===========    ===========    ===========

Interest paid on a cash basis           $   605,303    $   587,327    $ 1,188,634    $ 1,175,929
                                        ===========    ===========    ===========    ===========
</TABLE>


                                      - 5 -

<PAGE>



                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                          NOTES TO FINANCIAL STATEMENTS


The  financial  statements  and  schedules  included  herein  should  be read in
conjunction  with the  Partnership's  1996 Annual Report.  In the opinion of the
general partner,  all adjustments (only consisting of normal recurring accruals)
necessary for a fair presentation  have been made to the accompanying  financial
statements for the three months and six months ended June 30, 1997 and 1996.

1.   Use of Estimates in the Preparation of Financial Statements
     -----------------------------------------------------------

     The  preparation  of financial  statements  in  conformity  with  generally
     accepted  accounting  principles  requires management to make estimates and
     assumptions  that affect the reported amounts of assets and liabilities and
     disclosure  of  contingent  assets  and  liabilities  at  the  date  of the
     financial  statements  and the  reported  amounts of revenues  and expenses
     during  the  reporting  period.  Actual  results  could  differ  from those
     estimates.


2.   Cash and Equivalents - Restricted
     ---------------------------------

     Cash and equivalents - restricted represents funds received for residential
     security  deposits,  funds which have been escrowed with mortgage companies
     for property taxes and insurance in accordance with the loan agreements and
     funds reserved by the Partnership for the repurchase of limited partnership
     Units.

3.   Investment Securities
     ---------------------

     Investment  securities represent  investments in Certificates of Deposit or
     securities issued by the U.S. Government with initial maturities of greater
     than three months.  The investments are carried at cost which  approximates
     market  value.  The  Partnership  intends  to  hold  the  securities  until
     maturity.  During  1996  and  1997,  the  Partnership  sold  no  investment
     securities.  The following  provides details regarding the investments held
     at June 30, 1997:


                                   Amortized       Maturity       Value At
              Type                    Cost           Date         Maturity
              ----                    ----           ----         --------

     Certificate of Deposit       $  152,240       07/01/97      $  152,240
     Certificate of Deposit          129,589       08/22/97         130,494
     Certificate of Deposit          125,953       09/03/97         127,104
     Certificate of Deposit          100,403       09/29/97         101,697
     Certificate of Deposit          300,915       09/29/97         304,835
     Certificate of Deposit          100,775       11/08/97         102,646
                                   ---------                      ---------

                                  $  909,875                     $  919,016
                                   =========                      =========










                                      - 6 -

<PAGE>



3. Investment Securities - Continued
   ---------------------------------

     The following  provides details  regarding the investments held at December
     31, 1996:


                                        Amortized       Maturity      Value At
              Type                        Cost            Date        Maturity
              ----                        ----            ----        --------

     FHLB Discount Note                $  204,154       01/30/97     $  205,000
     Federal Farm Credit Bank             127,338       03/03/97        128,394
     FNMA Discount Note                   227,601       03/18/97        230,000
     Certificate of Deposit               401,174       04/01/97        406,204
     Certificate of Deposit               125,000       05/01/97        127,072
                                        ---------                     ---------

                                       $1,085,267                    $1,096,670
                                        =========                     =========


4.   Mortgages Payable
     -----------------

     Mortgages payable consist of the following:


                                                 June 30,         December 31,
                                                   1997               1996
                                                   ----               ----

     Mortgage payable with an insurance 
     company,  bearing interest at a fixed 
     rate of 7.43%, due May 15, 2009, 
     secured by land, buildings and
     amenities                                  $ 8,962,164      $        --

     Mortgage payable with an insurance
     company, bearing interest at 8.625%,
     due August 1, 1997, secured by land,
     buildings and amenities                             --        9,200,000

     Mortgage payable with an insurance
     company, bearing interest at 9.20%,
     due November 1, 1997, secured by land,
     buildings and amenities                      8,471,990        8,527,771

     Mortgage payable with an insurance
     company, bearing interest at 8.375%,
     due October 5, 2002, secured by land,
     buildings and amenities                      3,965,250        3,994,992

     Mortgage payable with an insurance
     company, bearing interest at 8.375%,
     due October 5, 2002, secured by land,
     buildings and amenities                        944,107          951,189

     Mortgage payable with an insurance
     company, bearing interest at 7.25%,
     due January 5, 2003, secured by land,
     buildings and amenities                      2,813,202        2,837,462

                              (Continued next page)


                                      - 7 -

<PAGE>


4.   Mortgages Payable - Continued
     -----------------------------

                                                  June 30,        December 31,
                                                    1997              1996
                                                    ----              ----
                                          
     Mortgage  payable  with an insurance  
     company,  bearing  interest at 7.25%,  
     due January 5, 2003, secured by land,
     buildings and amenities                     $ 1,875,468      $ 1,891,642
                                                  ----------       ----------
                                                 $27,032,180      $27,403,056
                                                  ==========       ==========

     Based on the borrowing  rates  currently  available to the  Partnership for
     mortgages  with  similar  terms and average  maturities,  the fair value of
     long-term debt is approximately $33,500,000.

     As of June 30, 1997,  the  Partnership  has  obtained a commitment  from an
     insurance  company for $8,500,000 of debt financing.  The proceeds from the
     new financing will be used to pay off the Partnership's  current $8,471,990
     mortgage  payable which is secured by the land,  buildings and amenities of
     Willow Lake  Apartments  which matures  November 1, 1997. The mortgage will
     bear interest at a fixed rate of 7.32% and will be fully  amortized  over a
     15-year  period.  Based upon the terms of the  commitment,  the Partnership
     anticipates  that the financing  will be completed in the fourth quarter of
     1997.

5.   Interest Repurchase Reserve
     ---------------------------

     Pursuant  to  Section  16.4  of  the  Partnership's  Amended  and  Restated
     Agreement of Limited Partnership,  the Partnership  established an Interest
     Repurchase  Reserve.  Through June 1997, the Partnership has funded a total
     amount of  $1,179,730 to the Reserve  which will allow the  Partnership  to
     repurchase up to 4,718 Units at a price of $250 per Unit.  Through June 30,
     1997,  the   Partnership  has  repurchased  a  total  of  4,632  Units  for
     $1,158,000.   Repurchased  Units  are  retired  by  the  Partnership,  thus
     increasing the share of ownership of each remaining investor.  The Interest
     Repurchase  Reserve was funded from cash reserves.  The amount remaining in
     the Interest Repurchase Reserve at June 30, 1997 was $21,730.

6.   Related Party Transactions
     --------------------------

     Pursuant to an agreement with the Partnership,  property management fees of
     $232,184  and  $237,966  for the six months  ended June 30,  1997 and 1996,
     respectively,  were paid to NTS  Development  Company,  an affiliate of the
     general  partner.  The  fee  is  equal  to  5% of  gross  revenues  of  the
     residential  properties  and 6% of the  gross  revenues  of the  commercial
     property.  The Partnership was also charged the following  amounts from NTS
     Development  Company for the six months ended June 30, 1997 and 1996. These
     charges  include  items which have been  expensed as  operating  expenses -
     affiliated or professional and administrative expenses affiliated and items
     which  have been  capitalized  as other  assets or as land,  buildings  and
     amenities.






                                      - 8 -

<PAGE>



6.   Related Party Transactions - Continued
     --------------------------------------

     The charges were as follows:


                                               1997       1996
                                             --------   --------

                     Administrative          $187,053   $126,588
                     Property manager         418,743    412,381
                     Leasing                  103,928    113,847
                     Other                      2,895        425
                                             --------   --------

                                             $712,619   $653,241
                                             ========   ========



7.   Reclassification of 1996 Financial Statements
     ---------------------------------------------

     Certain  reclassifications  have been made to the June 30,  1996  financial
     statements  to  conform  with  the  June 30,  1997  classifications.  These
     reclassifications have no effect on previously reported operations.
























                                      - 9 -

<PAGE>





Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

Results of Operations
---------------------

The  occupancy  levels  at the  Partnership's  properties  as of June 30 were as
follows:


                                                     1997               1996
                                                     ----               ----
Wholly-Owned Properties
-----------------------

Sabal Park Apartments                                 86%                94%

Park Place Apartments Phase I                         92%                89%

Willow Lake Apartments                                90%                92%


Properties Owned in Joint Venture
with NTS-Properties IV (Ownership % at
June 30, 1997)
--------------------------------------

Golf Brook Apartments (96%)                           91%                91%

Plainview Point III Office Center (95%)               88%                87%


Rental and other income generated by the Partnership's  properties for the three
months and six months ended June 30, 1997 and 1996 was as follows:


                                    Three Months Ended      Six Months Ended
                                          June 30,              June 30,
                                          --------              --------

                                      1997      1996        1997        1996
                                     ------    ------      ------      ------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments              $ 410,901  $ 430,567  $  827,105  $  871,982

Park Place Apartments Phase I      $ 462,592  $ 447,133  $  907,550  $  880,125

Willow Lake Apartments             $ 591,775  $ 608,825  $1,188,005  $1,220,738

Properties Owned in Joint Venture
with NTS-Properties IV (Ownership
% at June 30, 1997)
---------------------------------

Golf Brook Apartments (96%)        $ 651,923  $ 676,329  $1,325,333  $1,348,535

Plainview Point III Office         $ 194,453  $ 183,842  $  374,517  $  380,747
  Center (95%)

Revenues shown in the table above for  properties  owned through a joint venture
represent only the Partnership's percentage interest in those revenues.



                                     - 10 -

<PAGE>



Results of Operations - Continued
---------------------------------

Sabal Park Apartments'  occupancy  decreased from 94% at June 30, 1996 to 86% at
June  30,  1997.  Average  occupancy  for the six  month  period  ended  June 30
decreased  from  93%(1996) to 89%(1997).  Average  occupancy for the three month
period  ended June 30  decreased  from 93% (1996) to 88%  (1997).  Occupancy  at
residential properties fluctuate on a continuous basis.  Period-ending occupancy
percentages represent occupancy only on a specific date;  therefore,  it is more
meaningful   to  consider   average   occupancy   percentages   which  are  more
representative of the entire period's results.  Rental and other income at Sabal
Park  Apartments  decreased  for the three  months and six months ended June 30,
1997 as  compared  to the same  periods in 1996 as a result of the  decrease  in
average occupancy and increased rent concessions.

Park Place Apartments Phase I occupancy  increased 3% from June 30, 1996 to June
30, 1997.  Average  occupancy for the six month period decreased from 91% (1996)
to 89%  (1997).  Average  occupancy  for the three  month  period  ended June 30
remained constant at 91% (1996 and 1997).  Rental and other income at Park Place
Apartments  Phase I increased for the three months and six months ended June 30,
1997 as compared  to the same  periods in 1996 as a result of  increased  rental
rates and increased income from fully furnished units. Fully furnished units are
apartments which rent at an additional premium above base rent. Therefore, it is
possible for average  occupancy  to decrease  and revenues to increase  when the
number of fully furnished  units occupied has increased.  The increase in rental
and other  income for the six month period at Park Place  Apartments  Phase I is
partially offset by the decrease in average occupancy.

Willow Lake Apartments'  occupancy decreased from 92% at June 30, 1996 to 90% at
June 30, 1997.  Average  occupancy for the six month period  decreased  from 94%
(1996) to 90% (1997). Average occupancy for the three month period ended June 30
decreased from 93%(1996) to 88%(1997). Rental and other income decreased for the
three  months and six months ended June 30, 1997 as compared to the same periods
in 1996 as a result of the decrease in average  occupancy and  decreased  income
from fully furnished units. The decrease in rental income is partially offset by
increased fees  collected for short term leases and for early lease  termination
and increased rental rates.

Golf Brook  Apartments'  occupancy  was 91% at June 30,  1997 and 1996.  Average
occupancy  for the six month  period  decreased  from 92% (1996) to 91%  (1997).
Average  occupancy for the three month period  decreased  from 90% (1996) to 89%
(1997). Rental and other income at Golf Brook Apartments decreased for the three
months and six months  ended June 30, 1997 as  compared  to the same  periods in
1996 as a result of decreased occupancy and increased rent concessions.

In the opinion of the  General  Partner of the  Partnership,  the  decreases  in
occupancy  at  the  Partnership's  residential  properties  are  only  temporary
fluctuations and do not represent a downward occupancy trend.

The 1% increase in occupancy at Plainview  Point III Office Center from June 30,
1996 to June 30, 1997 is the result of expansions  by two current  tenants for a
total of approximately 2,500 square feet. Partially offsetting the expansions is
one tenant who vacated  approximately  1,600 square feet due to a downsizing  of
current space. The downsizing was done in conjunction  with a lease renewal,  so
there was no write-off of accrued income.  Average occupancy  decreased from 94%
(1996) to 89% (1997) for the three month period


                                     - 11 -

<PAGE>



Results of Operations - Continued
---------------------------------

ended June 30 and from 95% (1996) to 91% (1997) for the six month period. Rental
and other income  remained  fairly constant at Plainview Point III Office Center
for the three  months and six months ended June 30, 1997 as compared to the same
periods in 1996.

If present  trends  continue,  the  Partnership  will be able to continue at its
current  level  of  operations  without  the need of any  additional  financing.
Current  occupancy  levels are considered  adequate to continue the operation of
the Partnership's properties.

Interest  and  other  income  includes  income  from  investments  made  by  the
Partnership with cash reserves. Interest income remained fairly constant for the
three  months and six months ended June 30, 1997 as compared to the same periods
in 1996.

Operating  expenses increased for the six months ended June 30, 1997 as compared
to the same period in 1996 as a result of increased  replacement  costs (carpet,
vinyl and  wallcoverings)  and increased  repair and maintenance  costs at Sabal
Park Apartments and Golf Brook Apartments.  These increases are partially offset
by decreased  snow removal  costs at Park Place  Apartments  Phase I.  Operating
expenses  for the six month  period  remained  fairly  constant  at Willow  Lake
Apartments and Plainview Point III Office Center.  Operating  expenses decreased
for the three  months ended June 30, 1997 as compared to the same period in 1996
as a result of decreased  repair and maintenance  costs at Park Place Apartments
Phase I and Willow Lake  Apartments  and decreased  replacement  costs  (carpet,
vinyl and  wallcovering)  at Park Place  Apartments  Phase I. The  decreases  in
operating  expenses for the three month period are partially offset by increased
replacement  costs (carpet,  vinyl, and  wallcovering) at Golf Brook Apartments.
Operating  expenses for the three month period remained fairly constant at Sabal
Park Apartments and Plainview Point III Office Center.

Operating  expenses - affiliated  remained  fairly constant for the three months
and six months  ended June 30,  1997 as  compared  to the same  periods in 1996.
Operating  expenses - affiliated are expenses incurred for services performed by
employees of NTS Development Company, an affiliate of the General Partner of the
Partnership.

The decrease in interest  expense for the three months and six months ended June
30,  1997 as compared  to the same  periods in 1996 is due to the  Partnership's
decreasing  debt level as a result of principal  payments  made. The decrease in
interest  expense  for both  periods is also a result of the new debt  financing
which was obtained May 15, 1997. The  $9,200,000  loan which was paid off had an
interest rate of 8.625%  compared to 7.43% on the new  $9,000,000  loan. See the
Liquidity and Capital  Resources  section of this item for details regarding the
Partnership's debt.

Management  fees are  calculated as a percentage of cash  collections;  however,
revenue  for  reporting  purposes  is on the  accrual  basis.  As a result,  the
fluctuations of revenues  between  periods will differ from the  fluctuations of
management fee expense.

The increase in real estate taxes for the three months and six months ended June
30,  1997 as  compared  to the same  periods  in 1996 is a result  of  increased
property  assessments for Golf Brook and Sabal Park Apartments  partially offset
by a decreased  property  assessment  and a  decreased  tax rate for Willow Lake
Apartments.  Real estate taxes at Park Place  Apartments  Phase I and  Plainview
Point III Office Center  remained  fairly  constant for the three months and six
months ended June 30, 1997 as compared to the same periods in 1996.


                                     - 12 -

<PAGE>


Results of Operations - Continued
---------------------------------

Professional and administrative  expenses increased for the three months and six
months  ended June 30, 1997 as compared to the same  periods in 1996 as a result
of increased outside accounting and legal fees.

Professional and  administrative  expenses - affiliated  increased for the three
months and six months  ended June 30, 1997 as  compared  to the same  periods in
1996 as a result of increased  salary  costs.  Professional  and  administrative
expenses - affiliated are expenses incurred for services  performed by employees
of  NTS  Development  Company,  an  affiliate  of  the  General  Partner  of the
Partnership.

Depreciation and amortization  remained fairly constant for the three months and
six  months  ended  June  30,  1997 as  compared  to the same  periods  in 1996.
Depreciation  is computed  using the  straight-line  method  over the  estimated
useful  lives of the  assets  which are 5 - 30 years for land  improvements,  30
years for buildings, 5 - 30 years for building and improvements and 5 - 30 years
for amenities.  The aggregate cost of the  Partnership's  properties for Federal
tax purposes is approximately $59,300,000.

Liquidity and Capital Resources
-------------------------------

Cash provided by operations was $972,023 and $1,123,422 for the six months ended
June 30, 1997 and 1996,  respectively.  These funds in conjunction  with cash on
hand were used to make a 2%  (annualized)  cash  distribution  of  $432,470  and
$456,581  for the six months  ended June 30,  1997 and 1996,  respectively.  The
annualized  distribution rate is calculated as a percent of the original capital
contribution. The limited partners received 99% and the general partner received
1%  of  the   distributions.   The  primary  source  of  future   liquidity  and
distributions is expected to be derived from cash generated by the Partnership's
properties  after adequate cash reserves are  established for future leasing and
tenant finish costs.  Cash reserves (which are unrestricted cash and equivalents
and investment securities as shown on the Partnership's balance sheet as of June
30) were $1,869,119 and $1,540,798 at June 30, 1997 and 1996, respectively.

On May 15,  1997,  the  Partnership  obtained a mortgage  loan from an insurance
company in the amount of $9,000,000. The outstanding balance of the loan at June
30, 1997 was  $8,962,164.  The mortgage bears interest at a fixed rate of 7.43%,
is due May 15,  2009 and is  secured  by the  assets of Golf  Brook  Apartments.
Monthly principal payments are based upon a 12-year  amortization  schedule.  At
maturity,  the  loan  will  have  been  repaid  based  on the  current  rate  of
amortization.  The proceeds  from the loan along with cash reserves were used to
pay of the Partnership's  $9,200,000  mortgage payable which was secured by Golf
Brook Apartments. The mortgage bore interest at a fixed rate of 8.625% and had a
maturity date of August 1, 1997.

As of June 30, 1997, the Partnership also had a mortgage payable to an insurance
company in the amount of  $8,471,990.  The  mortgage  payable is due November 1,
1997,  bears  interest  at a fixed  rate of 9.20%  and is  secured  by the land,
buildings and amenities of Willow Lake  Apartments.  Current  monthly  principal
payments are based upon a 25-year amortization schedule. The outstanding balance
at maturity based on the current rate of amortization will be $8,433,356.




                                     - 13 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

As of  June  30,  1997 , the  Partnership  had  obtained  a  commitment  from an
insurance  company for $8,500,000 of debt  financing.  The proceeds from the new
financing will be used to pay off the Partnership's  current $8,471,990 mortgage
payable  which is secured by the land,  buildings  and  amenities of Willow Lake
Apartments  which matures November 1, 1997. The mortgage will bear interest at a
fixed rate of 7.32% and will be fully  amortized  over a 15-year  period.  Based
upon the terms of the commitment, the Partnership anticipates that the financing
will be completed in the fourth quarter of 1997.

As of June  30,  1997  the  Partnership  had two  mortgage  loans  each  with an
insurance  company in the amount of  $3,965,250  and  $944,107.  Both  mortgages
payable are due October 5, 2002,  currently bear a fixed interest rate of 8.375%
for the first 60 months, and are secured by the land, buildings and amenities of
Park Place Apartments Phase I. At the end of the 56th month from the date of the
notes (notes dated  September  1992),  the insurance  companies  will notify the
Partnership  of the interest rate which is their then  prevailing  interest rate
for loans with a term of five years on properties  comparable to the  apartments
(the "Modified Rate"). The Partnership will have 30 days to accept or reject the
Modified  Rate. If the Modified Rate is rejected by the  Partnership  the entire
unpaid principal  balance is due with the 60th  installment of interest.  If the
Partnership  accepts the Modified Rate, it becomes effective the 61st month from
the date of the note.  Current monthly principal  payments on both mortgages are
based upon a 27-year  amortization  schedule.  If the  Partnership  accepts  the
Modified Rate, the principal balance of both mortgages will be amortized using a
22-year amortization  schedule beginning the 61st month. The outstanding balance
at  maturity  based on the  current  rate of  amortization  would be  $4,413,955
($3,565,118 and $848,837).

As of June 30, 1997,  the  Partnership  also had two mortgage loans each with an
insurance  company in the amount of $2,813,202  and  $1,875,468.  Both mortgages
payable  are due  January 5, 2003,  currently  bear  interest at a fixed rate of
7.25%  for the first 60  months  and are  secured  by the  land,  buildings  and
amenities of Sabal Park  Apartments.  At the end of the 56th month from the date
of the notes (notes dated December  1992),  the insurance  companies will notify
the  Partnership  of the interest rate which is their then  prevailing  interest
rate  for  loans  with a term of five  years  on  properties  comparable  to the
apartments (the "Modified Rate"). The Partnership will have 30 days to accept or
reject the Modified  Rate. If the Modified Rate is rejected by the  Partnership,
the  entire  unpaid  principal  balance  is due  with the  60th  installment  of
interest. If the Partnership accepts the Modified Rate, it becomes effective the
61st month from the date of the note. Current monthly principal payments on both
mortgages are based upon a 27-year  amortization  schedule.  If the  Partnership
accepts the Modified  Rate,  the  principal  balance of both  mortgages  will be
amortized using a 22-year  amortization  schedule  beginning the 61st month. The
outstanding  balance at maturity based on the current rate of amortization would
be $4,122,326 ($2,473,396 and $1,648,930).

The General Partner of the Partnership is presently exploring the possibility of
refinancing the mortgages  encumbering  Park Place  Apartments Phase I and Sabal
Park  Apartments.  If an interest rate can be obtained  which would be less than
the Modified Rate, together with a favorable  amortization  schedule,  the loans
will likely be refinanced.

The  majority  of  the  Partnership's   cash  flow  is  derived  from  operating
activities.  Cash  flows used in  investing  activities  are for  tenant  finish
improvements and other capital improvements at the Partnership's properties.

                                     - 14 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

Changes to current  tenant finish  improvements  at commercial  properties are a
typical part of any lease negotiation. Improvements generally include a revision
to the current  floor plan to  accommodate a tenant's  needs,  new carpeting and
paint  and/or  wallcovering.  The  extent  and  cost of these  improvements  are
determined by the size of the space and whether the  improvements  are for a new
tenant or incurred  because of a lease renewal.  The tenant finish  improvements
and other capital additions were funded by cash flow from operations. Cash flows
used in investing activities are also for the purchase of investment securities.
As part  of its  cash  management  activities,  the  Partnership  has  purchased
Certificates of Deposit or securities issued by the U.S. Government with initial
maturities  of  greater  than  three  months to  improve  the return on its cash
reserves.  The Partnership  intends to hold the securities until maturity.  Cash
flows  provided  by  investing  activities  are  derived  from the  maturity  of
investment  securities.  Cash flows used in  financing  activities  are for cash
distributions,  principal payments on mortgages  payable,  repurchase of limited
partnership  Units and payment of loan costs.  Cash flows  provided by financing
activities  represent  the  utilization  of cash which has been  reserved by the
Partnership for the repurchase of limited  partnership Units and proceeds from a
mortgage loan. The Partnership  does not expect any material  changes in the mix
and relative cost of capital resources from those in 1996 except for the changes
resulting  from the  $9,000,000  mortgage  payable  obtained May 15,  1997,  the
$8,500,000 loan commitment and other debt refinancings  which the Partnership is
currently exploring as discussed above.

Pursuant to Section 16.4 of the Partnership's  Amended and Restated Agreement of
Limited Partnership, the Partnership established an Interest Repurchase Reserve.
Through June 1997,  the  Partnership  has funded a total amount of $1,179,730 to
the Reserve which will allow the  Partnership to repurchase up to 4,718 Units at
a price of $250 per Unit.  Through June 30, 1997 the Partnership has repurchased
a total of 4,632  Units for  $1,158,000.  Repurchased  Units are  retired by the
Partnership,  thus increasing the share of ownership of each remaining investor.
The  Interest  Repurchase  Reserve  was funded  from cash  reserves.  The amount
remaining in the Interest Repurchase Reserve at June 30, 1997 was $21,730.

The table below  presents  that portion of the  distributions  that  represent a
return of capital on a Generally Accepted Accounting Principle basis for the six
months  ended June 30, 1997 and 1996.  These  distributions  were funded by cash
flow derived from operating activities.



                                 Net Income           Cash
                                   (Loss)         Distributions       Return of
                                 Allocated           Declared          Capital
                                 ---------           --------          -------

Limited Partners:
       1997                      $ (91,491)          $ 428,145        $ 428,145
       1996                          97,756            452,015          354,259

General Partner:
       1997                      $    (924)          $   4,325        $   4,325
       1996                             987              4,566            3,579




                                     - 15 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

In an effort to continue to improve occupancy at the  Partnership's  residential
properties,  the  Partnership  has an on-site  leasing  staff,  employees of NTS
Development Company, at each of the apartment communities. The staff handles all
on-site visits from potential  tenants,  coordinates  local advertising with NTS
Development  Company's  marketing  staff,  makes  visits to local  companies  to
promote  fully  furnished  units and  negotiates  lease  renewals  with  current
residents.

The leasing and renewal  negotiations for the Partnership's  commercial property
are handled by leasing agents,  employees of NTS Development Company, located in
Louisville,  Kentucky.  The leasing  agent's are located in the same city as the
commercial property.  All advertising for the commercial property is coordinated
by NTS Development Company's marketing staff located in Louisville, Kentucky.

Leases at Plainview  Point III Office  Center  provide for tenants to contribute
toward the payment of increases in common area maintenance expenses,  insurance,
utilities  and real estate  taxes.  Leases at the office center also provide for
rent increases which are based upon increases in the consumer price index. These
lease provisions,  along with the fact that residential leases are generally for
a period of one year,  should  protect  the  Partnership's  operations  from the
impact of inflation and changing prices.

The Partnership owns approximately 15 acres of land,  adjacent to the Park Place
Apartments development, in Lexington,  Kentucky which is zoned for 163 apartment
units (Park Place Apartments  Phase III).  Included in the cost of approximately
$1,700,000  is land cost,  capitalized  interest,  common area costs and amenity
costs.  The  Partnership  continues  to evaluate  whether to sell or develop the
tract of land.  At this time, no final  decision has been made. In  management's
opinion, the net book value approximates the fair market value.

Some of the statements included in Item 2, Management's  Discussion and Analysis
of  Financial  Condition  and Results of  Operations,  may be  considered  to be
"forward-looking  statements" since such statements relate to matters which have
not yet occurred.  For example,  phrases such as the Partnership  "anticipates",
"believes" or "expects" indicate that it is possible that the event anticipated,
believed or expected may not occur. Should such event not occur, then the result
which  the  Partnership  expected  also may not  occur  or occur in a  different
manner, which may be more or less favorable to the Partnership.  The Partnership
does not  undertake  any  obligations  to  publicly  release  the  result of any
revisions to these  forward-looking  statements  that may be made to reflect any
future events or circumstances.

Any forward-looking  statements included in Management's Discussion and Analysis
of Financial  Condition and Results of Operations,  or elsewhere in this report,
which reflect  management's best judgement based on factors known, involve risks
and uncertainties. Actual results could differ materially from those anticipated
in any forward-looking  statements as a result of a number of factors, including
but  not  limited  to  that  which  is  discussed  below.  Any   forward-looking
information  provided by the Partnership pursuant to the safe harbor established
by recent  securities  legislation  should be  evaluated in the context of these
factors.






                                     - 16 -

<PAGE>

Liquidity and Capital Resources - Continued
-------------------------------------------


The  Partnership's  principal  activity  is  the  leasing  and  management  of a
commercial office building and apartment complexes. If a major commercial tenant
or a large number of apartment lessees default on their lease, the Partnership's
ability to make  payments  due under its debt  agreements,  payment of operating
costs and other  partnership  expenses  would be directly  impacted.  A lessee's
ability to make  payments are subject to risks  generally  associated  with real
estate,  many of which are beyond  the  control  of the  Partnership,  including
general or local economic conditions,  competition,  interest rates, real estate
tax rates, or other operating expenses and acts of God.








                                     - 17 -

<PAGE>



PART II.  OTHER INFORMATION

1.    Legal Proceedings

      None

2.    Changes in Securities

      None

3.    Defaults upon Senior Securities

      None

4.    Submission of Matters to a Vote of Security Holders

      None

5.    Other Information

      None

6.    Exhibits and Reports on Form 8-K

      (a)     Exhibits

              Exhibit 27. Financial Data Schedule

      (b)     Reports on Form 8-K

              There were no reports on Form 8-K for the three  months ended June
              30, 1997.





                                     - 18 -

<PAGE>


                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.


                                         NTS-PROPERTIES VI, a Maryland Limited
                                         Partnership
                                                     (Registrant)


                                         By:    NTS-Properties Associates VI,
                                                General Partner
                                                By: NTS Capital Corporation,
                                                    General Partner


                                                      /s/ John W. Hampton
                                                      John W. Hampton
                                                      Senior Vice President


Date:    August 11 , 1997


                                     - 19 -

<PAGE>