Laravel retiene el valor antiguo
<input type="text" class="form-control" id="productName" name="name" value="{{old('name')}}">
Horrible Hippopotamus
<input type="text" class="form-control" id="productName" name="name" value="{{old('name')}}"><textarea type="text" class="form-control" id="productDescription" name="description" />{{old('description')}}</textarea>