**Yes**

As noted, you can sell this for half the market price, as you can do with any item you make or otherwise acquire which is valued below twice the settlement you wish to sell it in's [purchase limit][1].  In addition to cheap drinks like common ales, [your spell][2] can specifically create wines, beers, and meads, and is definitely able to create some other unspecified alcoholic beverages, while not necessarily being able to create any arbitrary alcoholic beverage.  Whiskeys and such thus _may_ be possible to create but also may not be, at the discretion of your DM.

Regardless, the most expensive mundane base alcoholic drink I am aware of in Pathfinder is [Sealord Wine][3], which is a wine and so within the category of definitely producible drinks.  Sealord Wine sells for 15 gp per 1/2 pound, which means you can sell it for 7.5 gp per 1/2 pound, or [22.5 gp per Imperial Pint][4](Wines, predictably, have approximately the same density as water).  At level 1 you're looking at something like 67.5 gp/day assuming you don't specialize in this at all.  


  [1]: http://www.d20pfsrd.com/gamemastering/other-rules/settlements
  [2]: http://www.d20pfsrd.com/magic/all-spells/e/enhance-water
  [3]: http://www.d20pfsrd.com/equipment---final/goods-and-services/hunting-camping-survival-gear#TOC-Wine
  [4]: http://www.aqua-calc.com/calculate/food-volume-to-weight