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      FORM 10-Q--QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
             OF THE SECURITIES EXCHANGE ACT OF 1934

                          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 period ended                    MARCH 31, 2000
                               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: 33-5785-A

                   NASHVILLE LAND FUND, LTD.
     (Exact name of Registrant as specified in its charter)

          Tennessee                          62-1271664
 (State or other jurisdiction of          (I.R.S. Employer
 incorporation or organization)            Identification)

One Belle Meade Place, 4400 Harding Road, Suite 500, Nashville,
Tennessee
(Address of principal executive office)
     37205                                        (615) 292-1040
   (Zip Code)                       (Registrant's telephone number,
                                           including area code)

      Indicate by check mark whether the  Registrant  (1) 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  (or  for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for at least the past 90 days.


                                 YES    X     NO  ___


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                  PART I. FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS


                    NASHVILLE LAND FUND, LTD.
                (A Tennessee Limited Partnership)


                      FINANCIAL STATEMENTS
     For the Three Months Ended March 31, 2000 and 1999

                              INDEX



          Financial Statements:

               Balance Sheets                     3
               Statements of Operations           4
               Statements of Cash Flows           5
               Notes to Financial Statements      6





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<TABLE>


                    NASHVILLE LAND FUND, LTD.
                     (A Limited Partnership)

                         BALANCE SHEETS
                           (Unaudited)



<CAPTION>
                                    March 31,      December 31,
                                      2000             1999
                                  -------------    ------------
<S>                              <C>              <C>

               ASSETS

CASH                                $  95,291        $  128,827
RESTRICTED CASH                        37,130            36,982
LAND AND IMPROVEMENTS HELD
  FOR INVESTMENT, LESS VALUATION
  ALLOWANCE OF $1,017,154           2,267,809         2,256,945
DUE FROM AFFILIATE                     21,900            21,900
OTHER ASSETS                              175               175

               Total Assets       $ 2,422,305      $  2,444,829


               LIABILITIES AND PARTNERS' EQUITY


ACCOUNTS PAYABLE                     $ 47,827         $  61,069

PARTNERS' EQUITY:

  Limited Partners, 7,500 units
    outstanding                     2,374,392         2,383,674
  Special Limited Partner                   4                 4
  General Partner                          82                82

    Total Partners' equity          2,374,478         2,383,760

   Total Liabilities &
   Partners' Equity              $  2,422,305      $  2,444,829




<FN>
See accompanying notes to financial statements.
</TABLE>
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<TABLE>


                    NASHVILLE LAND FUND, LTD.
                     (A Limited Partnership)

                    STATEMENTS OF OPERATIONS
                           (Unaudited)


<CAPTION>

                                            Three months
                                                Ended
                                              MARCH 31,
                                           2000      1999
<S>                                      <C>       <C>
REVENUE:

Interest Income                            $  148       501

     Total Revenues                           148       501
EXPENSES:

Partnership and Property
  Management Fees                           3,500     3,500
Legal & Accounting Fees                     4,770     3,500
General & Administrative Expenses           1,160       223

     Total Expenses                         9,430     7,223

NET LOSS                                 $ (9,282) $ (6,722)







<FN>
See accompanying notes to financial statements

</TABLE>

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<TABLE>


                NASHVILLE LAND FUND, LTD.
                 (A Limited Partnership)

                STATEMENTS OF CASH FLOWS
                       (Unaudited)

<CAPTION>
                                            Three months ended
                                                  MARCH 31,
                                            2000          1999
<S>                                         <C>            <C>
Cash Flows from Operating Activities:

  Net Loss                               $ (9,282)    $ (6,722)
  Adjustments to reconcile
   Net loss to net cash
   used in operating activities:

  Cost of Land Improvements               (10,864)         -
  Increase in Restricted Cash                (148)        (501)
  Increase in other Assets                                (200)
  Decrease  in Accounts Payable           (13,242)     (23,487)

Net Cash used in operating activities     (33,536)     (30,910)


  Net Decrease in Cash                    (33,536)     (30,910)

CASH AT JANUARY 1,                        128,827       47,881
CASH AT MARCH 31,                          95,291     $ 16,971




<FN>
See accompanying notes to financial statements.

</TABLE>

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                    NASHVILLE LAND FUND, LTD.
                     (A Limited Partnership)

                  NOTES TO FINANCIAL STATEMENTS

     For the Three Months Ended March 31, 2000 and 1999
                           (Unaudited)


A.ACCOUNTING POLICIES

     The unaudited financial statements presented  herein  have
     been prepared  in accordance  with  the instructions to Form
     10-Q and do not  include all  of the  information  and  note
     disclosures required  by  generally  accepted accounting
     principles.   These statements  should  be  read  in
     conjunction with the financial statements and notes thereto
     included in the  Partnership's Form 10-K for the year ended
     December 31, 1999.  In the opinion  of management, such
     financial statements include all adjustments, consisting only
     of normal recurring adjustments,  necessary  to summarize
     fairly  the  Partnership's  financial  position  and results
     of operations.  The results of operations for the three month
     period ended March 31, 2000 may not  be indicative of the
     results  that  may  be expected for the year ending December
     31, 2000.


B.RELATED PARTY TRANSACTIONS

  The  General  Partner  and  its  affiliates  have been actively
  involved in managing the Partnership's operations.  Compensation
  earned for these services in the first three months were as
  follows:
                                           2000            1999
   Management Fees                        $3,500         $ 3,500
   Accounting Fees                           500             500



C. COMPREHENSIVE INCOME

     During the three month periods ended March 31, 2000 and 1999,
     the  Partnership had no components of other comprehensive
     income.  Accordingly, comprehensive income for each of the
     periods was the same as net income(loss).


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


RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 2000.

There were no land sales during 2000.

Overall operations of the Registrant are minimal and have not
fluctuated significantly.


FINANCIAL CONDITION

As of May 10, 2000, the Registrant had $ 84,803 in available funds
to cover operating expenses for the next year.  This balance is
sufficient to meet the operating needs of the Registrant for the
next year.

Year 2000

     In 1998, the Partnership initiated a plan ("Plan") to
identify, and remediate "Year 2000" issues within each of its
significant computer programs and certain equipment which contain
microprocessors.  The Partnership divided the Plan into five major
phases-assessment, planning, conversion, implementation and
testing. The plan was completed in mid 1999.  The total remediation
costs for the plan were not material to the operation or liquidity
of the partnerships. The Registrant has had no significant
operational difficulties related to Year 2000 issue.  Management
does not expect any issues or operational problems related to Year
2000 in the future.








 
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                   PART II. OTHER INFORMATION



Item 6. EXHIBITS AND REPORTS ON FORM 8-K


  (a)  Exhibits

     Exhibit 27 - Financial Data Schedule for the First Quarter of
2000

  (b)  No 8-K's have been filed during this quarter.






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                            SIGNATURES



Pursuant  to  the  requirements  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.


                                   NASHVILLE LAND FUND, LTD.

                                   By:   222 PARTNERS, INC.
                                         General Partner



Date: May 15, 2000                      By:/s/ Steven D. Ezell
                                        President


Date: May 15, 2000                      By:/s/ Michael A. Hartley
                                        Secretary/Treasurer