An anchor installation tool has an elongated driving member with a body portion and a head portion. A retaining mechanism retains the anchor installation to the drill bit. The mechanism has a housing on the body portion with a pair of bias lugs that project through the body portion to contact the drill bit. An anchor guide slides on the body and head portion and has a holding member to hold an anchor. The anchor is held in the anchor guide and a drill bit is inserted into the driving member. Axial movement of the drill bit is transferred into axial movement of the driving member. The movement strikes the anchor and ejects the anchor from the anchor guide into a surface.