A quantum hydrodynamic (fluid) model, derived from the Wigner-Poisson equations, is used to investigate the ultrafast electron dynamics in thin metal films. The hydrodynamic equations, which include exchange and correlation effects, can be combined into a single nonlinear Schr\odinger-type equation. The fluid model is first benchmarked against a density-functional calculation for the ground state, with good agreement between the two approaches. The ultrafast nonlinear electron dynamics is then investigated and compared to recent semiclassical results obtained with a Vlasov-Poisson approach.