Unfortunately, many older programs don't work with the newer operating systems, something most of us have experienced.
If it's a 64-bit OS and if GT 2 doesn't have a 64-bit version to install, make sure th 32-bit version installs in the Program Files (X86) folder.
You can try right-clicking the GT 2 icon, select Troubleshoot Compatibility and see what happens.
Also set it to Run As Administrator.
Or upgrade to the latest Win 7-compatible software.