Update:

Well, it is fixed. I was just going to take it down when I noticed that the power for it goes stright into a hole in the wall. Turns out that it just connects to the romex up in the top of the garage on the inside using wire nuts. One of them was not tight. So the light has worked for almost a week now with no problems. Now the light needs to come down and get mounted on a box and this whole thing done right, but at least I know that I don't need to replace it. The fun of a 61 year old house that has had 3 owners. The guy that built the garage worked for Detroit Edison and built it out of timber from the top of the power poles, could with stand a tornado but would burn down to poor wiring.
Thanks again to everyone that responded. One question, why did it work at all? If it was not touching it should have just not worked?
The wirs were not burnt or anything so it did not look like it was arcing or anything.

Static