Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-21152         

        Nuveen Georgia Dividend Advantage Municipal Fund 2         
(Exact name of registrant as specified in charter)

Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Kevin J. McCarthy—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            5/31          

Date of reporting period:         8/31/07         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

    Portfolio of Investments (Unaudited)             
    Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG)             
    August 31, 2007             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Staples – 3.0% (2.0% of Total Investments)             
$          2,000    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB   $   1,934,340 
     Series 2002, 5.500%, 5/15/39             
    Education and Civic Organizations – 17.1% (11.4% of Total Investments)             
    Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus             
    Housing LLC Project, Series 2002:             
3,500     5.000%, 12/01/27 – AMBAC Insured    12/12 at 100.00    Aaa    3,552,150 
2,500     5.000%, 12/01/33 – AMBAC Insured    12/12 at 100.00    Aaa    2,531,450 
1,225    Athens-Clarke County Unified Government Development Authority, Georgia, Educational Facilities    12/12 at 100.00    AAA    1,278,937 
     Revenue Bonds, UGAREF CCRC Building LLC Project, Series 2002, 5.000%, 12/15/18 –             
     AMBAC Insured             
2,000    Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech – Klaus Parking and    11/13 at 100.00    AAA    2,057,540 
     Family Housing, Series 2003, 5.000%, 11/01/23 – MBIA Insured             
1,050    Fulton County Development Authority, Georgia, Revenue Bonds, TUFF Morehouse Project, Series    2/12 at 100.00    AAA    1,059,471 
     2002A, 5.000%, 2/01/34 – AMBAC Insured             
500    Gainesville Redevelopment Authority, Georgia, Educational Facilities Revenue Bonds, Riverside    3/17 at 100.00    N/R    460,170 
     Military Academy Project, Series 2007, 5.125%, 3/01/37             
10,775    Total Education and Civic Organizations            10,939,718 
    Health Care – 26.1% (17.4% of Total Investments)             
150    Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center,    12/07 at 102.00    BB+    147,962 
     Series 1997, 5.250%, 12/01/12             
    Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center,             
    Series 1998:             
40     5.250%, 12/01/22    12/08 at 102.00    BB+    38,218 
315     5.375%, 12/01/28    12/08 at 102.00    BB+    298,003 
1,000    Chatham County Hospital Authority, Savannah, Georgia, Hospital Revenue Bonds, Memorial Health    1/14 at 100.00    BBB+    996,460 
     University Medical Center Inc., Series 2004A, 5.375%, 1/01/26             
95    Chatham County Hospital Authority, Savannah, Georgia, Hospital Revenue Improvement Bonds,    7/11 at 101.00    BBB+    98,459 
     Memorial Health University Medical Center Inc., Series 2001A, 6.125%, 1/01/24             
    Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical             
    Center, Series 2004:             
165     5.000%, 12/01/19    12/14 at 100.00    BBB+    162,980 
1,000     5.250%, 12/01/22    12/14 at 100.00    BBB+    995,250 
    Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical             
    Center Project, Series 2002:             
1,480     5.000%, 7/01/22 – MBIA Insured    7/12 at 101.00    Aaa    1,513,848 
1,000     5.200%, 7/01/32 – MBIA Insured    7/12 at 101.00    Aaa    1,022,710 
1,100    Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series    10/17 at 100.00    A2    1,105,511 
     2007, 5.250%, 10/01/35             
    Newnan Hospital Authority, Georgia, Revenue Anticipation Certificates, Newnan Hospital Inc.,             
    Series 2002:             
2,260     5.500%, 1/01/19 – MBIA Insured    1/13 at 100.00    Aaa    2,373,045 
3,020     5.500%, 1/01/20 – MBIA Insured    1/13 at 100.00    Aaa    3,169,611 
2,000    Savannah Hospital Authority, Georgia, Revenue Bonds, St. Joseph’s/Candler Health System,    1/14 at 100.00    AA    2,003,060 
     Series 2003, 5.250%, 7/01/23 – RAAI Insured             
1,945    Tift County Hospital Authority, Georgia, Revenue Anticipation Bonds, Tift Regional Medical    12/12 at 101.00    Aaa    2,026,262 
     Center, Series 2002, 5.250%, 12/01/19 – AMBAC Insured             
750    Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia    10/17 at 100.00    A+    732,345 
     Medical Center, Series 2007, 5.000%, 10/01/33             
16,320    Total Health Care            16,683,724 
    Housing/Multifamily – 4.6% (3.1% of Total Investments)             
    Savannah Economic Development Authority, Georgia, GNMA Collateralized Multifamily Housing             
    Revenue Bonds, Snap I-II-III Apartments, Series 2002A:             
500     5.150%, 11/20/22 (Alternative Minimum Tax)    11/12 at 102.00    AAA    503,405 
980     5.200%, 11/20/27 (Alternative Minimum Tax)    11/12 at 102.00    AAA    981,970 
1,465     5.250%, 11/20/32 (Alternative Minimum Tax)    11/12 at 102.00    AAA    1,467,930 
2,945    Total Housing/Multifamily            2,953,305 
    Housing/Single Family – 4.0% (2.6% of Total Investments)             
1,700    Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2002C-2, 5.100%,    12/12 at 100.00    AAA    1,706,460 
     12/01/22 (Alternative Minimum Tax)             
170    Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2006C-2, 4.550%,    12/15 at 100.00    AAA    154,748 
     12/01/31 (Alternative Minimum Tax)             
660    Georgia Housing and Finance Authority, Single Family Mortgage Resolution 1 Bonds, Series    6/11 at 100.00    AAA    665,531 
     2001B-2, 5.400%, 12/01/31 (Alternative Minimum Tax)             
2,530    Total Housing/Single Family            2,526,739 
    Industrials – 3.0% (2.0% of Total Investments)             
2,190    Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste    4/16 at 101.00    BBB    1,945,793 
     Management Project, Series 2004A, 5.000%, 4/01/33 (Alternative Minimum Tax)             
    Long-Term Care – 1.8% (1.3% of Total Investments)             
1,000    Fulton County Residential Care Facilities Authority, Georgia, Revenue Bonds, Elderly Care,    7/17 at 100.00    N/R    857,250 
     Lenbrook Square Project, Series 2006A, 5.125%, 7/01/42             
250    Medical Center Hospital Authority, Georgia, Revenue Bonds, Spring Harbor at Green Island,    No Opt. Call    N/R    247,923 
     Series 2007, 5.000%, 7/01/11             
1,250    Total Long-Term Care            1,105,173 
    Materials – 2.7% (1.8% of Total Investments)             
1,000    Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds,    2/11 at 101.00    BBB    1,036,530 
     International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax)             
250    Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding    2/12 at 101.00    BBB    257,245 
     Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax)             
370    Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp    No Opt. Call    Baa3    397,265 
     Corporation, Series 1995, 6.150%, 3/01/17             
1,620    Total Materials            1,691,040 
    Tax Obligation/General – 17.2% (11.5% of Total Investments)             
900    Decatur, Georgia, General Obligation Bonds, Series 2007, 5.000%, 1/01/31 – FSA Insured    1/17 at 100.00    AAA    930,807 
1,000    Forsyth County, Georgia, General Obligation Bonds, Series 2004, 5.250%, 3/01/19    3/14 at 101.00    AA    1,066,350 
1,700    Georgia State, General Obligation Bonds, Series 2007, 5.000%, 8/01/24    8/17 at 100.00    AAA    1,787,482 
750    Georgia, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15    No Opt. Call    AAA    822,323 
1,000    Georgia, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15    No Opt. Call    AAA    1,077,430 
    Oconee County, Georgia, General Obligation Bonds, Recreation Project, Series 2003:             
1,410     5.500%, 1/01/23 – AMBAC Insured    1/13 at 101.00    Aaa    1,515,962 
1,470     5.250%, 1/01/26 – AMBAC Insured    1/13 at 101.00    Aaa    1,531,475 
1,200    Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 5.000%, 2/01/33    2/17 at 100.00    AA+    1,233,072 
1,000    Wayne County Hospital Authority, Georgia, Hospital Revenue Bonds, Series 2006, 5.000%, 3/01/23 –    3/16 at 100.00    Aaa    1,024,700 
     XLCA Insured             
10,430    Total Tax Obligation/General            10,989,601 
    Tax Obligation/Limited – 20.7% (13.8% of Total Investments)             
120    Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007, 5.000%,    12/17 at 100.00    AAA    123,434 
     12/01/23 – AGC Insured             
750    Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project,    6/12 at 101.00    AAA    776,535 
     Series 2002, 5.125%, 12/01/21 – AMBAC Insured             
855    Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Series 2007,    No Opt. Call    AAA    936,037 
     5.250%, 7/01/32 – FGIC Insured             
2,500    Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds,    No Opt. Call    AAA    2,864,075 
     Series 1992P, 6.250%, 7/01/20 – AMBAC Insured             
500    Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005B,    7/15 at 100.00    BBB–    491,550 
     5.000%, 7/01/41             
2,500    Puerto Rico Municipal Finance Agency, Series 2002A, 5.000%, 8/01/27 – FSA Insured    8/12 at 100.00    AAA    2,550,075 
5,000    Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding    No Opt. Call    AAA    5,482,897 
     Bonds, Series 2002F, 5.250%, 7/01/21 – CIFG Insured             
12,225    Total Tax Obligation/Limited            13,224,603 
    Transportation – 5.9% (4.0% of Total Investments)             
3,650    Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2000A, 5.500%, 1/01/21 –    1/10 at 101.00    AAA    3,796,402 
     FGIC Insured             
    U.S. Guaranteed – 13.7% (9.1% of Total Investments) (4)             
1,000    Cherokee County School System, Georgia, General Obligation Bonds, Series 2003, 5.000%, 8/01/16    8/13 at 100.00    AAA    1,064,380 
     (Pre-refunded 8/01/13) – MBIA Insured             
    DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Series 2000:             
1,000     5.125%, 10/01/31 (Pre-refunded 10/01/10)    10/10 at 101.00    AAA    1,051,410 
2,500     5.375%, 10/01/35 (Pre-refunded 10/01/10)    10/10 at 101.00    AAA    2,646,600 
1,300    Fairburn, Georgia, Combined Utility Revenue Bonds, Series 2000, 5.750%, 10/01/20    10/10 at 101.00    A– (4)    1,389,141 
     (Pre-refunded 10/01/10)             
1,305    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates,    5/11 at 100.00    A– (4)    1,381,395 
     Northeast Georgia Health Services Inc., Series 2001, 5.500%, 5/15/31 (Pre-refunded 5/15/11)             
1,100    Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series    10/11 at 102.00    Baa2 (4)    1,202,542 
     2001, 5.750%, 10/01/31 (Pre-refunded 10/01/11)             
8,205    Total U.S. Guaranteed            8,735,468 
    Utilities – 4.8% (3.2% of Total Investments)             
1,000    Elberton, Georgia, Combined Utility System Revenue Refunding and Improvement Bonds, Series    1/12 at 100.00    Aaa    1,022,590 
     2001, 5.000%, 1/01/22 – AMBAC Insured             
1,000    Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A,    1/17 at 100.00    AAA    1,032,700 
     5.000%, 1/01/25 – MBIA Insured             
1,000    Municipal Electric Authority of Georgia, Project One Subordinated Lien Revenue Bonds, Series    1/13 at 100.00    AAA    1,026,270 
     2003A, 5.000%, 1/01/22 – MBIA Insured             
3,000    Total Utilities            3,081,560 
    Water and Sewer – 25.2% (16.8% of Total Investments)             
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004:             
500     5.250%, 11/01/15 – FSA Insured    11/14 at 100.00    AAA    538,840 
1,700     5.000%, 11/01/37 – FSA Insured    11/14 at 100.00    AAA    1,724,939 
    Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002:             
1,000     5.250%, 10/01/22 – FSA Insured    10/12 at 100.00    AAA    1,049,910 
3,500     5.000%, 10/01/27 – FSA Insured    10/12 at 100.00    AAA    3,561,110 
1,000    Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue    12/15 at 100.00    AAA    1,025,410 
     Bonds, Series 2005, 5.000%, 6/01/29 – MBIA Insured             
4,000    Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2002,    4/13 at 100.00    AA    4,046,440 
     5.000%, 4/01/32             
950    Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 1998, 5.000%, 1/01/16 –    7/08 at 101.00    AAA    968,582 
     FGIC Insured             
3,100    Harris County, Georgia, Water System Revenue Bonds, Series 2002, 5.000%, 12/01/22 –    12/12 at 100.00    Aaa    3,183,204 
     AMBAC Insured             
15,750    Total Water and Sewer            16,098,435 
$        92,890    Total Investments (cost $95,483,561) – 149.8%            95,705,901 
    Other Assets Less Liabilities – 1.8%            1,186,173 
    Preferred Shares, at Liquidation Value – (51.6)%            (33,000,000) 
    Net Assets Applicable to Common Shares – 100%           $   63,892,074 

(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
    shares unless otherwise noted. 
(2)    Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
    There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may 
    be subject to periodic principal paydowns. 
(3)    Ratings: Using the higher of Standard & Poor’s or Moody’s rating. Ratings below BBB by Standard & Poor’s 
    Group or Baa by Moody’s Investor Service, Inc. are considered to be below investment grade. 
(4)    Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities 
    which ensure the timely payment of principal and interest. Such investments are normally considered to be 
    equivalent to AAA rated securities. 
N/R    Not rated. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing taxable market discount and timing differences in recognizing certain gains and losses on investment transactions.

At August 31, 2007, the cost of investments was $95,655,362.

Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2007, were as follows:

Gross unrealized:     
  Appreciation    $1,164,420 
  Depreciation    (1,113,881) 
Net unrealized appreciation (depreciation) of investments    $     50,539 

Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)         Nuveen Georgia Dividend Advantage Municipal Fund 2        

By (Signature and Title)*          /s/ Kevin J. McCarthy                    
                                                    Kevin J. McCarthy
                                                    Vice President and Secretary

Date         October 30, 2007        

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         October 30, 2007        

By (Signature and Title)*         /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                   Vice President and Controller (principal financial officer) 

Date        October 30, 2007        

* Print the name and title of each signing officer under his or her signature.