JSFiddle - React, Tailwind, and code Playground

HTML

<textarea id="test">Hello&nbsp;Cruel&nbsp;<br&nbsp;/>World!</textarea>

JavaScript

function replaceHtml( string_to_replace ) 
    {
        return string_to_replace.replace(/&nbsp;/g, ' ').replace(/<br.*?>/g, '\n');
     }

var str = $("#test").val();

$("#test").val(replaceHtml(str));