In the SQLServerCental Webinar #5, Setup Your Source Control With Help from PowerShell, we had MVP Allen White talking about Powershell and how to script out your schema to files. Allen also showed how SQL Source Control, from Red Gate Software, can make the process of using source control much easier from SSMS.
You can download a trial of SQL Source Control from Red Gate and try it yourself.
The Powerpoint deck is available for download below and the questions and answers will be posted here shortly. The Powershell script is available below as well.