Easy.
1) Reboot to single-user mode.
2) umount /home (if already mounted)
3) mkdir /home
4) mkdir /mnt/home
5) mount -t<type> /dev/<old /home partition> /mnt/home
6) mv /mnt/home/* /home/
7) umount /mnt/home
8) Use parted to repartition and format your partitions (man parted)
9) mount -t<type> /dev/<new /home partition> /mnt/home
10) mv /home /mnt/home/
11) umount /mnt/home
12) rmdir /home
13) Edit /etc/fstab as necessary
14) Reboot
Sounds worse than it is. It's just a lot of little steps. I haven't
used parted much, so I'd suggest testing it on another drive first, just
so you get comfortable with it.
P.S. Sean/Rodolfo/Ed, if I've forgotten anything, please speak up. I
need sleep. ;-)