[root@bogon html]# ln -s /usr/local/src .
[root@bogon html]# ll
total 3
lrwxrwxrwx 1 root root 14 Nov 2 11:13 src -> /usr/local/src

[root@bogon src]# createrepo .
Saving Primary metadata
Saving file lists metadata
Saving other metadata
Generating sqlite DBs
Sqlite DBs complete
[root@bogon src]# ls
repodata
[root@bogon src]# cd repodata/
[root@bogon repodata]# ls
01a3b489a465bcac22a43492163df43451dc6ce47d27f66de289756b91635523-filelists.sqlite.bz2 6bf9672d0862e8ef8b8ff05a2fd0208a922b1f5978e6589d87944c88259cb670-other.xml.gz   repomd.xml
401dc19bda88c82c403423fb835844d64345f7e95f5b9835888189c03834cc93-filelists.xml.gz   7c36572015e075add2b38b900837bcdbb8a504130ddff49b2351a7fc0affa3d4-other.sqlite.bz2
5dc1e6e73c84803f059bb3065e684e56adfc289a7e398946574d79dac6643945-primary.sqlite.bz2  dabe2ce5481d23de1f4f52bdcfee0f9af98316c9e0de2ce8123adeefa0dd08b9-primary.xml.gz

[root@bogon src]# createrepo --update .
Spawning worker 0 with 1 pkgs
Spawning worker 1 with 0 pkgs
Workers Finished
Saving Primary metadata
Saving file lists metadata
Saving other metadata
Generating sqlite DBs
Sqlite DBs complete

[root@localhost yum.repos.d]# cat test.repo 
[TestYum]
name=TestYum
baseurl=http://192.168.149.129/src
gpgcheck=0
enabled=1