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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 September 30, 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)


      4400 Harding Road, Suite 500, Nashville, Tennessee   37205
     (Address of principal executive office)           (Zip Code)

                         (615)  292-1040
      (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





                              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>
                                September 30,   December 31,
                                    2000            1999
                                  --------      ------------
<S>                                 <C>             <C>

          ASSETS

CASH                           $     46,283    $     128,827
RESTRICTED CASH                      37,634           36,982
LAND AND IMPROVEMENTS
   HELD FOR INVESTMENT            1,537,687        2,116,945
DUE FROM AFFILIATES                  11,637           21,900
OTHER ASSETS                            175              175
                                  ---------        ---------

     Total Assets            $    1,633,416      $ 2,304,829
                                  =========        =========



                     LIABILITIES AND PARTNERS' EQUITY


ACCOUNTS PAYABLE               $     54,764     $   61,069


PARTNERS' EQUITY:

  Limited Partners, 7,500 units
     outstanding                  1,578,566        2,243,674
  Special Limited Partner                 4                4
  General Partner                        82               82

     Total Partners' Equity       1,578,652        2,243,760
                                 ----------        ---------
  Total Liabilities &
  Partners' Equity            $   1,633,416      $ 2,304,829
                                  =========        =========
<FN>
                    See 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      Nine Months Ended
                                   Ending September 30,
                         -----------------------------------------
                                 2000      1999      2000      1999
<S>                             <C>       <C>       <C>       <C>
REVENUE:

Sales of Land and
  Improvements           $ 666,170   $   -     $ 666,170     $ 99,467
Cost of Land and
  Improvements Sold       (590,122)      -      (590,122)     (62,444)
Selling Expenses           (70,011)  -      (70,011)           (9,342)

Gain on Sales of Land
      and Improvements       6,037         -    6,037          27,681
Interest                       262       220         652          918

Total Revenues               6,299      220         6,689      28,599

EXPENSES:

Association Fees            25,463    25,463      25,463       25,463
Maintenance                     36        13          36           24
Management Fees              3,500     3,500      10,500       10,500
Legal & Accounting Fees        500     1,175      15,472       15,282
Administration Expense       1,329       482       4,085        1,280
Property Taxes               7,381    26,191      11,708       26,233
State Tax                    1,511         -       4,533            -

Total Expenses              39,720    56,824      71,797       78,782

NET LOSS                 $ (33,421) $(56,604)  $ (65,108)   $ (50,183)

Net loss per
   limited partner unit    $ (4.46)  $ (7.56)    $ (8.68)      $(6.69)


<FN>
                     See notes to financial statements

</TABLE>
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<TABLE>

                         NASHVILLE LAND FUND, LTD.
                          (A Limited Partnership)

                         STATEMENTS OF CASH FLOWS
                                (Unaudited)
<CAPTION>

                                     Nine Months Ended
                                     September 30,
                                   ---------------------
                                     2000         1999
                                     ----         ----
<S>                                  <C>          <C>
Cash flows from operating activities:

  Net loss                        $ (65,108)   $(50,183)
     Adjustments to reconcile
     Net loss to net cash
     provided in operating
     activities:
       Cost of Land and
         Improvements Sold          590,122      62,444
       Cost of Land Improvements    (10,864)     (2,997)
       Increase in restricted cash     (652)       (849)
       (Decrease) Increase in
       accounts payable              (6,305)     14,266
       Decrease in Due
       from Affiliates               10,263        -


     Net cash provided by
       operating activities          517,456     22,681

Cash Flows from financing activities-

     Distributions to Partners      (600,000)         -
     Net increase (decrease) in Cash (82,544)    22,681

CASH AT JANUARY 1,                   128,827     47,881

CASH AT SEPTEMBER 30,           $     46,283 $   70,562

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

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                         NASHVILLE LAND FUND, LTD.
                          (A Limited Partnership)

                      NOTES TO FINANCIAL STATEMENTS

   For the Three and Nine Months Ended September 30, 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 nine month period ended September 30,
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 nine months were as follows:

<TABLE>
<CAPTION>
                                      2000         1999
                                   ________     ________
<S>                                   <C>          <C>
        Management Fees             $ 10,500     $10,500
        Accounting Fees             $ 10,659     $ 2,600
        Sales Commission            $      -     $ 7,957
        Development Fees            $  4,000     $     -

C.  COMPREHENSIVE INCOME

     During the three and nine month periods ended September 30, 2000 and
1999, the Partnership had no components of other comprehensive loss.
Accordingly, comprehensive loss for each of the periods was the same as
net loss.


</TABLE>
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Item 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF
        FINANCIAL CONDITION AND RESULTS OF OPERATIONS


RESULTS OF OPERATIONS
During 2000, the Registrant sold approximately nine acres of land.
The sale was from the North Creek Business Park Property.  The proceeds
from the sale were distributed to the limited partners.

Overall operations of the Registrant are minimal and have not
fluctuated significantly.  State tax expense in 2000 includes estimated
Tennessee franchise and excise tax of $4,533.  Due to new legislation in
Tennessee, partnerships were required to pay franchise and excise tax
beginning January 1, 2000.

During the fourth quarter, Management will update its evaluation of the
values of the Property and if necessary, any impairment will be recorded.

FINANCIAL CONDITION

As of October 31, 2000, the Registrant has $ 44,049 in cash reserves.
These funds are expected to be sufficient to fund operations for the
remainder the fiscal year.

In June 1998, the Financial Accounting Standards Board issued SFAS No.
133, "Accounting for Derivative Instruments and Hedging Activities." SFAS
No. 133 established reporting standards for derivative instruments,
including certain derivative instruments embedded in other contracts.
Under SFAS No. 133, the Company would recognize all derivatives as either
assets or liabilities, measured at fair value, in the statement of
financial position.  In July 1999, SFAS No. 137 "Accounting for
Derivative Instruments and Hedging Activities - Deferral of Effective
Date of FASB No. 133, An Amendment of FASB Statement No. 133" was issued
deferring the effective date of SFAS No. 133 to fiscal years beginning
after June 15, 2000.  In June 2000, SFAS No. 138 "Accounting for Certain
Derivative Instruments and Certain Hedging Activities, an Amendment of
FASB No. 133" was issued clarifying the accounting for derivatives under
the new standard.  The General Partner believes these pronouncements will
have no impact on its consolidated financial statements.


In December 1999, the Securities and Exchange Commission issued Staff
Accounting Bulletin No. 101 "Revenue Recognition in Financial Statements"
("SAB 101").  SAB 101 establishes specific criterion for revenue
recognition.  In June 2000, the Securities and Exchange Commission issued
("SAB 101B"), which amends SAB 101 no later than the fourth quarter of
its fiscal year ending December 31, 2000.  The General Partner believes
that this SAB will have no impact on the Company's revenue recognition
and presentation policies.



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                      PART II. OTHER INFORMATION



Item 6. EXHIBITS AND REPORTS ON FORM 8-K


  (a)  Exhibits
     Exhibit 27 - Financial Data Schedule

  (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: November 14, 2000                 By:  /s/ Steven D. Ezell
                                        President



Date: November 14, 2000                 By:  /s/ Michael A. Hartley
                                        Secretary/Treasurer