git clone https://github.com/kevalbhatt/react-webpack-hmr.git
cd react-webpack-hmr/
npm install
npm start
open http://localhost:8080

Install slush-react-webpack-hmr globally:

$ npm install -g slush-react-webpack-hmr

Create a new folder for your project:

$ mkdir my-slush-react-webpack-hmr

Run the generator from within the new folder:

$ cd my-slush-react-webpack-hmr && slush react-webpack-hmr

Note: slush react-webpack-hm will start npm server it self.

Now edit app/index.jsx.
Your changes will appear without reloading the browser.