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We've been debating whether or not this is a real photo or an expert rendering, but if it is a photoshopped image of a BMW M1 prototype, then it is very convincing. According to FreshTarmac.com, this photo was taken in a hangar in Spain. It shows a sleek two-door, probably mid-engined coupe with attributes of the new M3 incorporated into its design, especially the front fenders and hood. With BMW introducing the M1 Hommage Concept at the Concorso d'Eleganza at Villa d'Este last week, we hope this means that is already considering a production version. Come on BMW, build it!