Yes, but it will take some work. OBS has source services that can automatically check out upstream vcs sources, update the spec file, and build. But it doesn’t automatically detect when changes occur upstream. If you can design some sort of svn commit hook that triggers an OBS service update and rebuild, I think you’ll have what you want.
It’s probably better to experiment with a private instance of the OBS, if you’re talking about a significant build load.
My project is hosted as SourceForge.net so I might have to get with them to setup a hook to triger a rebuild. I dont think my project would produce much in terms of build load it only takes a few seconds to compile the program. In the meantime that it has source services and can automatically check out the sources and package everything sounds like its a good start and major improvement over what I am doing now.