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        September  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 September 30, 1997 and December 31, 1996              3

            Statements of Operations
              For the three months and nine months ended
              September 30, 1997 and 1996                                 4

            Statements of Cash Flows
              For the three months and nine months ended
              September 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
                                        September 30,1997  December 31, 1996*
                                        ----------------   ------------------
ASSETS
------
<S>                                       <C>                 <C>
Cash and equivalents                      $    805,109        $    640,541
Cash and equivalents - restricted              593,882             390,677
Investment securities                        1,040,949           1,085,267
Accounts receivable                            124,202             136,394
Land, buildings and amenities, net          39,138,808          40,436,784
Assets held for development, net             1,686,881           1,714,511
Other assets                                   568,871             367,628
                                          ------------        -------------

                                          $ 43,958,702        $ 44,771,802
                                          ============        =============

LIABILITIES AND PARTNERS' EQUITY
--------------------------------

Mortgages payable                         $ 26,903,627        $ 27,403,056
Accounts payable                               314,221             349,168
Distributions payable                          216,091             216,692
Security deposits                              246,125             250,814
Other liabilities                              536,169              52,086
                                           ------------        ------------

                                            28,216,233          28,271,816

Partners' equity                            15,742,469          16,499,986
                                          ------------         ------------

                                          $ 43,958,702         $ 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                  (66,781)           (675)       (67,456)
Cash distributions declared to
 date                                (10,882,981)       (109,929)   (10,992,910)
Repurchase of limited
 partnership Units                    (1,331,619)           --       (1,331,619)
                                    ------------    ------------   ------------

Balances at September 30, 1997      $ 15,928,909    $   (186,440)  $ 15,742,469
                                    ============    ============   ============

</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           Nine Months Ended
                                         September 30,                September 30,
                                         -------------                -------------

                                      1997          1996          1997            1996
                                   -----------   -----------   -----------    ------------
REVENUES:
<S>                                <C>           <C>           <C>            <C>        
 Rental income                     $ 2,406,443   $ 2,428,236   $ 7,015,617    $ 7,113,142
 Interest and other income              28,707        30,015        85,129         89,634
                                   -----------   -----------   -----------    -----------

                                     2,435,150     2,458,251     7,100,746      7,202,776

EXPENSES:
 Operating expenses                    676,959       699,364     1,904,410      1,882,073
 Operating expenses - affiliated       270,203       247,495       821,521        786,872
 Interest expense                      542,070       586,023     1,691,016      1,759,840
 Management fees                       122,426       123,699       354,610        361,666
 Real estate taxes                     198,134       191,141       589,978        573,267
 Professional and administrative
  expenses                              44,155        33,192       129,911        106,239
 Professional and administrative
  expenses - affiliated                 74,991        49,239       232,145        147,106
 Depreciation and amortization         481,253       479,510     1,444,611      1,438,382
                                   -----------   -----------   -----------    -----------

                                     2,410,191     2,409,663     7,168,202      7,055,445
                                   -----------   -----------   -----------    -----------

Net income (loss)                  $    24,959   $    48,588   $   (67,456)   $   147,331
                                   ===========   ===========   ===========    ===========

Net income (loss) allocated to
 the limited partners              $    24,709   $    48,102   $   (66,781)   $   145,858
                                   ===========   ===========   ===========    ===========

Net income (loss) per limited
 partnership Unit                  $       .58   $      1.09   $     (1.56)   $      3.20
                                   ===========   ===========   ===========    ===========

Weighted average number of
 limited partnership Units              42,786        44,120        42,822         45,590
                                   ===========   ===========   ===========    ===========



</TABLE>

                                      - 4 -

<PAGE>

<TABLE>


                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                            STATEMENTS OF CASH FLOWS

<CAPTION>

                                                        Three Months Ended                  Nine Months Ended
                                                           September 30,                       September 30,
                                               --------------------------------       -----------------------------

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

<S>                                           <C>               <C>                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)                              $     24,959     $     48,588        $    (67,456)    $    147,331
Adjustments to reconcile net income
   (loss) to net cash provided by
   operating activities:
      Accrued interest on investment
        securities                                   (7,470)          (4,294)             (6,071)          (1,010)
      Depreciation and amortization                 481,253          479,510           1,444,611        1,438,382
      Changes in assets and
      liabilities:
        Cash and equivalents -
           restricted                              (129,242)        (227,703)           (244,705)        (505,460)
        Accounts receivable                          16,304           (1,484)             12,192            6,209
        Other assets                                 15,839           16,026              18,512           41,165
        Accounts payable                             15,897           59,330             (34,947)          89,178
        Security deposits                            (1,580)           2,307              (4,689)           5,444
        Other liabilities                           213,541          228,462             484,078          502,925
                                               ------------     ------------        ------------     ------------

   Net cash provided by operating
      activities                                    629,501          600,742           1,601,525        1,724,164
                                               ------------     ------------        ------------     ------------

CASH FLOWS FROM INVESTING ACTIVITIES
Additions to land, buildings and
 amenities                                          (31,135)         (19,807)            (47,088)         (94,944)
Purchase of investment securities                  (798,604)        (880,517)         (2,380,000)      (2,467,955)
Maturity of investment securities                   675,000          565,192           2,430,389        2,271,672
                                               ------------     ------------        ------------     ------------

Net cash used in investing
 activities                                        (154,739)        (335,132)              3,301         (291,227)
                                               ------------     ------------        ------------     ------------

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgages
 payable                                         (8,628,553)         (63,135)        (17,999,429)        (185,522)
Proceeds from mortgage loan                       8,500,000             --            17,500,000             --
Loan costs                                         (284,167)            --              (291,668)            --
Cash distributions                                 (216,177)        (224,808)           (649,161)        (696,152)
Repurchase of limited partnership
 Units                                               (4,250)        (155,000)            (41,500)        (885,750)
Cash and equivalents - restricted                     4,250          155,000              41,500          430,370
                                               ------------     ------------        ------------     ------------

   Net cash used in financing
      activities                                   (628,897)        (287,943)         (1,440,258)      (1,337,054)
                                               ------------     ------------        ------------     ------------

   Net increase (decrease) in cash
      and equivalents                              (154,135)         (22,333)            164,568           95,883

CASH AND EQUIVALENTS, beginning of
 period                                             959,244          511,768             640,541          393,552
                                               ------------     ------------        ------------     ------------

CASH AND EQUIVALENTS, end of period            $    805,109     $    489,435        $    805,109     $    489,435
                                               ============     ============        ============     ============

Interest paid on a cash basis                  $    575,248     $    586,023        $  1,763,882     $  1,761,585
                                               ============     ============        ============     ============
</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 nine months ended  September  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 September 30, 1997:


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

     Certificate of Deposit       $  131,136      10/10/97    $  131,384
     Certificate of Deposit          202,647      10/15/97       203,049
     Certificate of Deposit          202,359      11/04/97       203,337
     Certificate of Deposit          102,099      11/08/97       102,646
     Certificate of Deposit          151,165      12/04/97       152,546
     Certificate of Deposit          151,165      12/30/97       153,107
     Certificate of Deposit          100,378      12/30/97       101,684
                                   ---------                   ---------

                                  $1,040,949                  $1,047,753
                                   =========                   =========









                                      - 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:


                                                   September 30,    December 31,
                                                       1997             1996
                                                   ------------      -----------
     Mortgage payable with an insurance company,
     bearing interest at a fixed rate of
     7.43%, due May 14, 2009, secured by land,
     buildings and amenities                       $ 8,845,369      $     --

     Mortgage payable with an insurance
     company, bearing interest at 7.32%,
     due October 15, 2002, secured by land,
     building and amenities                          8,500,000            --

     Mortgage payable with an insurance
     company, bearing interest at 8.375%,
     due October 5, 2002, secured by land,
     buildings and amenities                         3,949,907        3,994,992

     Mortgage payable with an insurance
     company, bearing interest at 8.375%,
     due October 5, 2002, secured by land,
     buildings and amenities                           940,454          951,189

     Mortgage payable with an insurance
     company, bearing interest at 7.25%,
     due January 5, 2003, secured by land,
     buildings and amenities                         2,800,738        2,837,462

     Mortgage payable with an insurance
     company, bearing interest at 7.25%,
     due January 5, 2003, secured by land,
     buildings and amenities                         1,867,159        1,891,642

                              (Continued next page)


                                      - 7 -

<PAGE>


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


                                                  September 30,    December 31,
                                                     1997              1996
                                                  ------------     -----------
     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                           --             8,527,771
                                                   -----------      -----------
                                                   $26,903,627      $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 $29,600,000.

     As of September 30, 1997, the Partnership has obtained a commitment from an
     insurance  company for $4,700,000 of debt financing.  The proceeds from the
     new financing will be used to pay off the Partnership's  current $2,800,738
     and $1,867,159 (total of $4,667,897) mortgages payable which are secured by
     the land,  buildings and amenities of Sabal Park  Apartments  which matures
     January 5, 2003.  The mortgage  will bear interest at a fixed rate of 7.38%
     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.

     Subsequent to September 30, 1997, the Partnership  obtained a mortgage loan
     from an insurance  company in the amount of  $12,200,000.  Loan proceeds of
     $5,000,000  were  advanced  and used to pay off the  Partnership's  current
     $3,949,907 and $940,454 (total of $4,890,361) mortgages payable, which were
     secured by the land, buildings and amenities of Park Place Apartments Phase
     I, and fund loan closing costs. The remaining $7,200,000 loan proceeds will
     be used to construct Park Place  Apartments  Phase III. These loan proceeds
     will be  advanced as needed in  accordance  with the loan  agreements.  The
     mortgage bears interest at a fixed rate of 7.74% and will be amortized over
     19 years.
     The mortgage loan matures October 15, 2012.

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 September 30, 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  September 30, 1997,  the  Partnership  has  repurchased a total of
     4,649 Units for $1,162,250. Repurchased Units are retired by





                                      - 8 -

<PAGE>



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

     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 September 30,
     1997 was $17,480.

     Subsequent  to  September  30,  1997,  the  Partnership  elected to fund an
     additional $300,000 to the Interest Repurchase Reserve.  With this funding,
     the Partnership will be able to repurchase up to 1,000 Units at a currently
     contemplated price of $300 per Unit.


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

     Pursuant to an agreement with the Partnership,  property management fees of
     $354,610  and $361,666  for the nine months  ended  September  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 nine months ended September 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.


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

          Administrative          $  274,622       $  187,515
          Property manager           629,077          598,679
          Leasing                    146,732          160,803
          Other                       30,607            4,574
                                   ---------        ---------

                                  $1,081,038       $  951,571
                                   =========        =========



7.   Reclassification of 1996 Financial Statements
     ----------------------------------------------
     Certain  reclassifications  have  been  made  to  the  September  30,  1996
     financial   statements   to   conform   with   the   September   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
         -----------------------------------------------------------------------
         0F OPERATIONS
         -------------

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

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


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

Sabal Park Apartments                        97%                  96%

Park Place Apartments Phase I                94%                  96%

Willow Lake Apartments                       91%                  93%


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

Golf Brook Apartments (96%)                  97%                  97%

Plainview Point III Office Center (95%)      88%                  91%


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


                                    Three Months Ended      Nine Months Ended
                                        September 30,          September 30,
                                  ----------------------  ----------------------

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

Sabal Park Apartments            $ 435,922   $ 460,585   $1,263,027   $1,332,568

Park Place Apartments Phase I    $ 495,690   $ 481,698   $1,403,240   $1,361,823

Willow Lake Apartments           $ 598,768   $ 595,553   $1,786,773   $1,816,291

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

Golf Brook Apartments (96%)       $ 700,928   $ 724,860   $2,026,261  $2,073,395

Plainview Point III Office        $ 181,970   $ 174,211   $  556,488  $  554,958
  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 increased from 96% at September 30, 1996 to 97%
at  September  30,  1997.  Average  occupancy  for the nine month  period  ended
September 30 decreased  from 94%(1996) to 91%(1997).  Average  occupancy for the
three month period ended  September 30 decreased  from 97% (1996) to 95% (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 nine months ended
September  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  decreased 2% from September 30, 1996 to
September 30, 1997.  Average  occupancy for the nine month period decreased from
92% (1996) to 91% (1997).  Average  occupancy  for the three month  period ended
September 30 decreased from 95% (1996) to 93%(1997).  Rental and other income at
Park Place  Apartments Phase I increased for the nine months ended September 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 nine month period at Park Place  Apartments  Phase I is
partially offset by the decrease in average  occupancy.  Rental and other income
at Park Place  Apartments Phase I increased for the three months ended September
30, 1997 as compared to the same periods in 1996 as a result of increased rental
rates.  The  increase in rental and other  income for the three month  period is
partially  offset by the  decrease in average  occupancy  and  decreased  income
collected from fully furnished units.

Willow Lake  Apartments'  occupancy  decreased from 93% at September 30, 1996 to
91% at September 30, 1997. Average occupancy for the nine month period decreased
from 94% (1996) to 90% (1997).  Average  occupancy  for the three  month  period
ended  September 30 decreased  from  93%(1996)  to  91%(1997).  Rental and other
income decreased for the nine months ended September 30, 1997 as compared to the
same  period  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.  Rental and other income at Willow
Lake Apartments for the three months ended September 30, 1997 as compared to the
same period in 1996 remained fairly constant.

Golf Brook Apartments' occupancy was 97% at September 30, 1997 and 1996. Average
occupancy  for the nine month  period  decreased  from 94% (1996) to 93% (1997).
Average  occupancy for the three month period remained constant at 97% (1996 and
1997). Rental and other income at Golf Brook Apartments  decreased for the three
months and nine months ended  September 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.








                                     - 11 -

<PAGE>



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

The 3% decrease in occupancy at Plainview Point III Office Center from September
30,  1996 to  September  30,  1997  is the  result  of 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 90% (1996) to 88%
(1997) for the three month period ended  September 30 and from 94% (1996) to 90%
(1997)  for the nine  month  period.  Rental and other  income  remained  fairly
constant  at  Plainview  Point III Office  Center for the three  months and nine
months ended September 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 nine months ended  September  30, 1997 as compared to the same
periods in 1996.

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

Operating  expenses - affiliated  increased for the three months and nine months
ended  September 30, 1997 as compared to the same periods in 1996 as a result of
increased salary costs at the Partnership's  residential  properties.  Operating
expenses - affiliated for the three month and nine month period  remained fairly
constant at Plainview Point III Office Center.  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 nine months  ended
September  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
financings  which  were  obtained  May 15,  1997 and  September  12,  1997  (see
discussion  below).  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.  The  approximately
$8,550,000  loan which was paid off had an  interest  rate of 9.20%  compared to
7.32% on the new  $8,500,000  loan.  See the  Liquidity  and  Capital  Resources
section of this item for details regarding the Partnership's debt.





                                     - 12 -

<PAGE>



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

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 nine months  ended
September  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 nine months  ended  September  30,  1997 as compared to the same  periods in
1996.

Professional and administrative expenses increased for the three months and nine
months  ended  September  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 nine months ended  September 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
nine months  ended  September  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  $1,601,525  and $1,724,164 for the nine months
ended September 30, 1997 and 1996, respectively. These funds in conjunction with
cash on hand were used to make a 2% (annualized)  cash  distribution of $648,561
and  $678,258  for  the  nine  months  ended   September   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 September 30) were  $1,846,058  and $1,867,813 at September 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
September 30, 1997 was  $8,845,369.  The mortgage bears interest at a fixed rate
of  7.43%,  is due May 14,  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 off 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.


                                     - 13 -

<PAGE>



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

On September 12, 1997, the  Partnership  obtained a mortgage loan from insurance
company  in the amount of  $8,500,000.  The  outstanding  balance of the loan at
September 30, 1997 was  $8,500,000.  The mortgage bears interest at a fixed rate
of 7.32%,  is due  October  15, 2002 and is secured by the assets of Willow Lake
Apartments.  Monthly  principal  payments are based upon a 15-year  amortization
schedule. At maturity,  the loan will have been repaid based on the current rate
of  amortization.  The  proceeds  from  the  loan  were  used  to  pay  off  the
Partnership's  mortgage  payable which was secured by Willow Lake Apartments and
fund loan closing costs. The mortgage bore interest at a fixed rate of 9.20% and
had a maturity date of November 1, 1997.

As of September  30, 1997 the  Partnership  had two mortgage  loans each with an
insurance  company in the amount of  $3,949,907  and  $940,454.  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.  Current  monthly  principal  payments  on both
mortgages  are  based  upon a 27-year  amortization  schedule.  The  outstanding
balance  at  maturity  based  on the  current  rate  of  amortization  would  be
$4,413,955 ($3,565,118 and $848,837).

Subsequent to September 30, 1997 the  Partnership  obtained a mortgage loan from
an insurance  company in the amount of $12,200,000.  The mortgage bears interest
at a fixed rate of 7.74%,  is due  October 15, 2012 and is secured by the assets
of Park  Place  Apartments  Phase I and Park Place  Apartments  Phase III (to be
constructed).  On October 8, 1997, $5,000,000 of the loan proceeds were advanced
and  used  to pay  off the  Partnership's  $3,949,907  and  $940,454  (total  of
$4,890,361) mortgages payable, which were secured by Park Place Apartments Phase
I, and fund loan closing  costs.  The mortgages bore interest at a fixed rate of
8.375% and had maturity dates of October 5, 2002. The remaining  $7,200,000 loan
proceeds will be advanced during the construction of Park Place Apartments Phase
III as needed in accordance with the loan agreement.

As of September 30, 1997, the Partnership  also had two mortgage loans each with
an insurance company in the amount of $2,800,738 and $1,867,159.  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.  Current monthly principal  payments on both
mortgages  are  based  upon a 27-year  amortization  schedule.  The  outstanding
balance  at  maturity  based  on the  current  rate  of  amortization  would  be
$4,122,326 ($2,473,396 and $1,648,930).

As of September  30, 1997,  the  Partnership  has obtained a commitment  from an
insurance  company for $4,700,000 of debt  financing.  The proceeds from the new
financing  will be used to pay off  the  Partnership's  current  $2,800,738  and
$1,867,159 (total of $4,667,897) mortgages payable (as discussed above)which are
secured by the land buildings and amenities of Sabal Park  Apartments,  and fund
loan closing costs. The mortgage will bear interest at a fixed rate of 7.38% 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
during the fourth quarter of 1997.

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
-------------------------------------------

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.
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
mortgage loans.  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  loan obtained May 15, 1997, the $8,500,000  loan
obtained  September 12, 1997, the $12,200,000 loan obtained October 8, 1997, and
the $4,700,000 loan commitment 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  September  30,  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  September  30,  1997 the
Partnership has  repurchased a total of 4,649 Units for $1,162,250.  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 September
30, 1997 was $17,480.

Subsequent to September 30, 1997, the Partnership  elected to fund an additional
$300,000 to the Interest Repurchase Reserve.  With this funding, the Partnership
will be able to repurchase up to 1,000 Units at a currently  contemplated  price
of $300 per Unit.




                              (Continued next page)




                                     - 15 -

<PAGE>



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

The table below  presents  that portion of the  distributions  that  represent a
return of capital on a Generally  Accepted  Accounting  Principle  basis for the
nine months ended September 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                  $ (66,781)         $ 642,075          $ 642,075
       1996                    145,858            671,475            525,617

General Partner: 
       1997                 $     (675)         $   6,486          $   6,486
       1996                      1,473              6,783              5,310


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  intends  to use  the  land  to  construct  Park  Place
Apartments Phase III. It is anticipated that construction will begin in 1998. 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,  or elsewhere in this report,
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


                                     - 16 -

<PAGE>



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

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.

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 payment of 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
              September 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:    November 12, 1997
        


                                     - 19 -

<PAGE>