I have been an iphone developer for a while, and I have recently been including git in my workflow. I have used git settings found on http://shanesbrain.net/2008/7/9/using-
This works for me in Xcode 4.6 and Git 1.7.5.
Add and commit .gitattributes file with this:
*.pbxproj binary merge=union
I've tested this with another team member and works great.
Taken from: http://robots.thoughtbot.com/post/33796217972/xcode-and-git-bridging-the-gap