The man was flying between Bodmin and Roche in Cornwall when he made the emergency landing at a country club near Polzeath on Wednesday.
The club was evacuated during the landing. The pilot later had a glass of water there, said witnesses.
The propeller landed 10ft (3m) away from a builder in Polzeath who said he was "lucky to be alive".
The pilot, Nick Chitterdon, said the aircraft is a vintage 1936 plane.
"When the propeller went there was a loud bang and it disappeared to the left.
"I switched the fuel off and started looking for field to land in. I then remembered a private airstrip at a nearby golf course and it took sometime to glide down."
The propeller landed in a building site near Polzeath only feet away from delivery driver Paul Stembridge.
He said: "I was working away and I heard a big crash behind me. I turned around and there was a big propeller about 10ft behind me.
"It was a matter of milliseconds - if it had gone a bit further that would probably have been my lot."
Eva Davies, one of the directors at The Point at Polzeath Club, where the aircraft landed, said: "We had a phone call from the fire service who told us to evacuate the building, which included the restaurant, golf club, health club, gym, changing rooms and swimming pool.
"The aircraft was spotted by a few golfers as it came in. He was gliding down straight on to our airfield.
"Although he landed safely, within five minutes we had six fire engines, three police cars and ambulance here. They didn't know if he was injured.
"The pilot then came in and had a glass water."
A Devon and Cornwall Police spokesman said: "Thankfully, he was obviously a very skilled pilot.
"The pilot has recovered the plane, and the propeller which landed in New Polzeath has been recovered by the police."
A spokesman from Bodmin Airfield said pilots were trained to glide in aircraft before "going solo" to prepare them for such incidents.
The plane was an Aeronca. The incident has been reported to The Air Accidents Investigation Branch.
A pilot managed to glide his single-engine aeroplane to safety after the propeller fell off at 2,000ft (610m).