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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported)
March 5, 2012 (March 1, 2012)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MID-AMERICA APARTMENT COMMUNITIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">TENNESSEE</FONT></TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">1-12762</FONT></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">62-1543819</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">(State
    of incorporation)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">(Commission
    File Number)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">(I.R.S.
    Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 66%"><FONT STYLE="font-size: 10pt">6584 Poplar
    Avenue, Suite 300</FONT></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">Memphis, Tennessee</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">38138</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(901) 682-6600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant's telephone number, including area
code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 1.01.&#9;Entry into a Material Definitive
Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">On March 1, 2012, Mid-America Apartment Communities,
Inc., (&ldquo;MAA&rdquo;), through Mid-America Apartments, L.P., MAA&rsquo;s operating partnership, (the &ldquo;Borrower&rdquo;),
entered into a $150 million unsecured term loan agreement (the &ldquo;Agreement&rdquo;). The facility has a term of five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Outstanding amounts under the facility will bear
interest at a variable rate based upon three-month LIBOR, plus a spread based on MAA&rsquo;s total leverage as indicated in the
following table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Leverage Ratio</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">LIBOR Rate Loans</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Alternate Base Rate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level I</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">&lt; 45%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.40%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.40%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">&gt;= 45% but &lt;50%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.65%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.65%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 3</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">&gt;= 50% but &lt; 55%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.90%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.90%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 4</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">&gt;= 55%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">2.15%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.15%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">If MAA obtains an additional investment grade
rating, the facility will bear interest at a variable rate based upon the applicable LIBOR, plus a spread based upon the investment
grade rating as indicated in the following table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Credit Rating Level</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">LIBOR Rate Loans</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 0; text-align: left">Alternate Base Rate</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level I</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Credit Rating Level 1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.10%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.10%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Credit Rating Level 2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.35%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.35%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 3</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Credit Rating Level 3</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.50%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">0.50%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Pricing Level 4</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">Credit Rating Level 4</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">2.05%</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: left">1.05%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Keybank National Association
and J.P. Morgan Securities, LLC acted as joint lead arrangers; Keybank National Association served as administrative agent; JPMorgan
Chase Bank, N.A. served as syndication agent; and Regions Bank, UBS Loan Finance LLC and Bank of Montreal acted as co-documentation
agents. Other lenders also included Fifth Third Bank, PNC Bank, National Association and First Tennessee Bank National Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">MAA and certain subsidiaries of MAA have agreed
to guarantee the Borrower&rsquo;s obligations under the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Agreement contains affirmative and negative
covenants usual and customary for financings generally and also contains financial covenants that, among other things, require
certain leverage and secured debt ratios, unencumbered asset levels and fixed charge coverage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">MAA intends to use the loan proceeds, among other
things, to refinance existing lines of secured credit facilities, for the acquisition and/or development of properties, and for
other general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">On March 1, 2012, MAA borrowed $50 million under
the Agreement, primarily to pay down outstanding balances under its existing secured credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A copy of the Agreement will be filed as an
Exhibit to MAA&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 2.03.&#9;Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 1, 2012, MAA entered into the Agreement,
the terms and conditions of which are described in Item 1.01 of this Form 8-K, which by this reference is incorporated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 7.01.&#9;Regulation FD Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On March 5, 2012, the registrant issued a press release announcing
<FONT STYLE="color: black">the closing of a $150 million unsecured term loan agreement</FONT><FONT STYLE="color: red">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information furnished on Exhibit 99.1 is hereby incorporated
by reference under this Item 7.01 as if fully set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information presented herein under Item 7.01 shall not be deemed
&ldquo;filed&rdquo; under the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such a filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 9.01.&#9;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(c)</TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Exhibits</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Exhibit Number</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Press Release dated March 5, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">(furnished)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Pursuant to Instruction B.4. to Form 8-K and applicable
regulations and releases, forms of documents and descriptions of arrangements related to the foregoing matters reported under Item
1.01 will be filed as exhibits not later than the registrant&rsquo;s quarterly report on Form 10-Q applicable to the quarter ending
March 31, 2012, except for exhibits filed with this Report. All summaries and descriptions of documents, and of amendments thereto,
set forth above are qualified in their entirety by the documents themselves, whether filed as an exhibit hereto or filed as an
exhibit to a later report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">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
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 65%; padding-right: 5.4pt; padding-left: 0; text-align: justify; font-weight: bold">MID-AMERICA APARTMENT COMMUNITIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">Date:&nbsp; March 5, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">By:<U> /s/Albert M. Campbell, III</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">Albert M. Campbell, III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">Executive Vice President, Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">(Principal Financial and Accounting Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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{"company-data": {"conformed-name": "MID AMERICA APARTMENT COMMUNITIES INC", "cik": "0000912595", "assigned-sic": "6798", "irs-number": "621543819", "state-of-incorporation": "TN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12762", "film-number": "12664866"}, "business-address": {"street1": "6584 POPLAR AVE", "street2": "STE 340", "city": "MEMPHIS", "state": "TN", "zip": "38138", "phone": "9016826600"}, "mail-address": {"street1": "6584 POPLAR AVE", "street2": "SUITE 340", "city": "MEMPHIS", "state": "TN", "zip": "38138"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported)
March 5, 2012 (March 1, 2012)
MID-AMERICA APARTMENT COMMUNITIES, INC.
(Exact name of registrant as specified in its
charter)
TENNESSEE
1-12762
62-1543819
(State
    of incorporation)
(Commission
    File Number)
(I.R.S.
    Employer Identification No.)
6584 Poplar
    Avenue, Suite 300
Memphis, Tennessee
38138
(Address of principal executive offices)
(Zip Code)
(901) 682-6600
(Registrant's telephone number, including area
code)
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
£
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.	Entry into a Material Definitive
Agreement
On March 1, 2012, Mid-America Apartment Communities,
Inc., ("MAA"), through Mid-America Apartments, L.P., MAA's operating partnership, (the "Borrower"),
entered into a $150 million unsecured term loan agreement (the "Agreement"). The facility has a term of five years.
Outstanding amounts under the facility will bear
interest at a variable rate based upon three-month LIBOR, plus a spread based on MAA's total leverage as indicated in the
following table.
Pricing Level
Leverage Ratio
LIBOR Rate Loans
Alternate Base Rate
Pricing Level I
< 45%
1.40%
0.40%
Pricing Level 2
>= 45% but <50%
1.65%
0.65%
Pricing Level 3
>= 50% but < 55%
1.90%
0.90%
Pricing Level 4
>= 55%
2.15%
1.15%
If MAA obtains an additional investment grade
rating, the facility will bear interest at a variable rate based upon the applicable LIBOR, plus a spread based upon the investment
grade rating as indicated in the following table.
Pricing Level
Credit Rating Level
LIBOR Rate Loans
Alternate Base Rate
Pricing Level I
Credit Rating Level 1
1.10%
0.10%
Pricing Level 2
Credit Rating Level 2
1.35%
0.35%
Pricing Level 3
Credit Rating Level 3
1.50%
0.50%
Pricing Level 4
Credit Rating Level 4
2.05%
1.05%
Keybank National Association
and J.P. Morgan Securities, LLC acted as joint lead arrangers; Keybank National Association served as administrative agent; JPMorgan
Chase Bank, N.A. served as syndication agent; and Regions Bank, UBS Loan Finance LLC and Bank of Montreal acted as co-documentation
agents. Other lenders also included Fifth Third Bank, PNC Bank, National Association and First Tennessee Bank National Association.
MAA and certain subsidiaries of MAA have agreed
to guarantee the Borrower's obligations under the Agreement.
The Agreement contains affirmative and negative
covenants usual and customary for financings generally and also contains financial covenants that, among other things, require
certain leverage and secured debt ratios, unencumbered asset levels and fixed charge coverage.
MAA intends to use the loan proceeds, among other
things, to refinance existing lines of secured credit facilities, for the acquisition and/or development of properties, and for
other general corporate purposes.
On March 1, 2012, MAA borrowed $50 million under
the Agreement, primarily to pay down outstanding balances under its existing secured credit facilities.
A copy of the Agreement will be filed as an
Exhibit to MAA's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.
Item 2.03.	Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On March 1, 2012, MAA entered into the Agreement,
the terms and conditions of which are described in Item 1.01 of this Form 8-K, which by this reference is incorporated herein.
Item 7.01.	Regulation FD Disclosure
On March 5, 2012, the registrant issued a press release announcing
the closing of a $150 million unsecured term loan agreement
.
The information furnished on Exhibit 99.1 is hereby incorporated
by reference under this Item 7.01 as if fully set forth herein.
The information presented herein under Item 7.01 shall not be deemed
"filed" under the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such a filing.
Item 9.01.	Financial Statements and Exhibits.
(c)
Exhibits
Exhibit Number
Description
99.1
Press Release dated March 5, 2012
(furnished)
Pursuant to Instruction B.4. to Form 8-K and applicable
regulations and releases, forms of documents and descriptions of arrangements related to the foregoing matters reported under Item
1.01 will be filed as exhibits not later than the registrant's quarterly report on Form 10-Q applicable to the quarter ending
March 31, 2012, except for exhibits filed with this Report. All summaries and descriptions of documents, and of amendments thereto,
set forth above are qualified in their entirety by the documents themselves, whether filed as an exhibit hereto or filed as an
exhibit to a later report.
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
hereunto duly authorized.
MID-AMERICA APARTMENT COMMUNITIES, INC.
Date:  March 5, 2012
By:
/s/Albert M. Campbell, III
Albert M. Campbell, III
Executive Vice President, Chief Financial Officer
(Principal Financial and Accounting Officer)