I created a react application using create-react-app boilerplate, which seems to be very popular, hot reload some times updates when any of the files changes and some times
try deleting the node_modules folder and reinstall by using cmd npm install
npm install
worked for me ( ubuntu 18.04.3 LTS )
I was able to make this work using:
sudo npm start
run this command
sudo -i echo 1048576 > /proc/sys/fs/inotify/max_user_watches exit