Naturally you wouldn`t be able to move the Blade Barrier (unless you made a new spell, but that`s another story...) but it would definitely mow down the chunk of wall you set it to. And considering that there`s nothing to stop you from putting a bunch of them, you and your army can sit back and enjoy the spectacle of the mortar from x stories of wall falling in on itself over the course of several hours. Seeing as sieges normally take months, this seems like a bargain. Also, of course, if you happen to be flying over the town (preferably invisible) then you can target key locations to be visited by whirling slicey death.
One fun trick; make a series of horizontal blade barriers complete a huge line in the wall. That way, the wall falls in on itself, gets ground up, mortar flies everywhere, flies down again, more grinding, et al. And think what those guards on the parapets must feel like. Soup!