p.tryon said:
my question was- would the motion of the whole spacecraft actually appear to slow down? (sorry if this was unclear)
Going a little deeper into your question...
You talk about a spacecraft "approaching the speed of light" (as measured in the Earth frame, I guess). So it is accelerating, isn't it? If so, the answer is contained in your question: as you have been told, in the Earth frame it's always going faster and faster.
But maybe what you are implicitly asking also is what peculiar thing SR says with regard to this situation as opposed to Galilean relativity. If so, the peculiar thing is that in the Earth frame the spacecraft never reaches the speed of light, no matter how much it accelerates.
You can think of your example with a variation that clarifies that postulate: initially there's a mother craft traveling at u = 0.5 c with regard to the Earth from which a second craft takes off at v = 0.5 c with regard to the mother craft; then a third craft accelerates away at w = 0.5 c with regard to the second craft; and so on.
In Galilean relativity you would say that the second craft travels wrt the Earth at u + v = 0.5 c + 0.5 c = c (the speed of light) and the third craft travels wrt the Earth at (u + v) + w = 1.5 c and so on.
Instead, in SR the formula for addition of velocities is (u + v)/(1+uv/c^2).
If you make the calculations with this formula, you will notice that the second craft travels wrt the Earth not at 1 c but at 0.8 c; the third at 0.92 c, the fourth at 0.97 c, the fifth at 0.99 c and succesive ones at always higher fractions of c but never c.
Thus "somehow", in a very loose way, you could say that the motion of the accelerating spacecraft is "slowed down": it is slowed down vis-à-vis what you'd expect to hear as solution to the same problem in a classical framework...